Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Minnesota
MNPCEVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,586.80
Year-over-Year Change
117.89%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures personal consumption expenditures on durable goods, specifically motor vehicles and parts, in the state of Minnesota. It provides insights into consumer demand and the health of the automotive industry in the region.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Minnesota metric tracks consumer spending on durable goods related to the automotive sector within the state. This data is a key indicator of economic activity and consumer confidence in the region.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and other economic sources.
Historical Context
Policymakers and market analysts use this trend to assess the strength of consumer demand and the broader economic conditions in Minnesota.
Key Facts
- Minnesota's motor vehicle and parts consumption accounted for $X.XX billion in 2022.
- Durable goods spending in Minnesota grew by X.X% year-over-year in the latest quarter.
- Motor vehicle and parts consumption makes up approximately X% of total personal consumption expenditures in Minnesota.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on durable goods, specifically motor vehicles and parts, within the state of Minnesota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and the health of the automotive industry in Minnesota, which is crucial for understanding the broader economic conditions in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and other economic sources.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts use this trend to assess the strength of consumer demand and make informed decisions about economic policies and investments in Minnesota.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the U.S. Bureau of Economic Analysis, and may have a lag of several months before the latest information is available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Minnesota (MNPCEVEH), retrieved from FRED.