Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Montana
MTPCEPCVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,053.00
Year-over-Year Change
100.72%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the per capita personal consumption expenditures on durable goods, specifically motor vehicles and parts, for the state of Montana. It provides insights into consumer demand and spending patterns within the state.
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 Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Montana metric tracks the average amount spent by Montanans on motor vehicles and related products. This data is used by economists and policymakers to analyze consumer behavior and gauge the health of the state's automotive industry.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on consumer spending surveys and economic reports.
Historical Context
This metric is a key indicator for monitoring the state's economic conditions and can inform policy decisions related to the automotive sector and consumer spending.
Key Facts
- Montana's per capita motor vehicle spending has averaged $4,200 over the past decade.
- Durable goods account for approximately 25% of total personal consumption expenditures in Montana.
- The automotive industry is a significant contributor to Montana's economy, employing over 10,000 workers.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by Montana residents on durable goods, specifically motor vehicles and parts.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and spending patterns within Montana, which is crucial for understanding the state's economic conditions and the health of the automotive industry.
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 consumer spending surveys and economic reports.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to monitor the state's economic conditions and inform policy decisions related to the automotive sector and consumer spending.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a delay of several months between the end of the reporting period and the release of the data.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Montana (MTPCEPCVEH), retrieved from FRED.