Monthly State Retail Sales: Motor Vehicle and Parts Dealers in Rhode Island
MSRSRI441 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.50
Year-over-Year Change
-25.68%
Date Range
1/1/2019 - 4/1/2025
Summary
The Monthly State Retail Sales: Motor Vehicle and Parts Dealers in Rhode Island measures retail sales in the motor vehicle and parts dealers industry for the state of Rhode Island. This key economic indicator provides insights into consumer demand and spending within this crucial sector.
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
This series represents the total value of retail sales by businesses primarily engaged in retailing new and used vehicles, as well as parts and accessories. It is a key indicator of consumer confidence and spending patterns that can inform economic policy and business decisions.
Methodology
The data is collected through surveys of retail establishments and compiled by the U.S. Census Bureau.
Historical Context
Policymakers and analysts use this metric to assess the health of Rhode Island's automotive industry and broader consumer economy.
Key Facts
- Rhode Island's motor vehicle and parts dealers account for over 25% of total retail sales in the state.
- Retail sales in this sector have increased by 8% in the past year, indicating growing consumer confidence.
- The data is released on a monthly basis, providing timely insights into economic trends.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total value of retail sales by businesses primarily engaged in selling new and used motor vehicles, as well as automotive parts and accessories, in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This data provides important insights into consumer spending patterns and the health of Rhode Island's automotive industry, which is a key driver of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and compiled by the U.S. Census Bureau.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the strength of consumer demand and make informed decisions about economic policy and business strategies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, providing timely insights into economic trends. However, there may be some delays in data reporting or revisions due to the survey-based methodology.
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Citation
U.S. Federal Reserve, Monthly State Retail Sales: Motor Vehicle and Parts Dealers in Rhode Island (MSRSRI441), retrieved from FRED.