Personal Consumption Expenditures: Goods: Durable Goods for North Carolina
NCPCEDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75,884.50
Year-over-Year Change
138.57%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic indicator measures personal consumption expenditures on durable goods in North Carolina. It provides insights into consumer demand and economic activity in 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 Personal Consumption Expenditures: Goods: Durable Goods for North Carolina metric tracks consumer spending on long-lasting tangible products, such as appliances, furniture, and vehicles, within the state. It is a key indicator of North Carolina's economic health and consumer confidence.
Methodology
The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by policymakers, economists, and businesses to assess North Carolina's economic performance and make informed decisions.
Key Facts
- North Carolina's durable goods spending accounts for about 20% of total personal consumption expenditures.
- Durable goods purchases are a leading indicator of consumer confidence and future economic growth.
- The COVID-19 pandemic significantly impacted durable goods spending in North Carolina, with a sharp decline in 2020 followed by a rebound in 2021.
FAQs
Q: What does this economic trend measure?
A: This indicator measures personal consumption expenditures on durable goods, such as appliances, furniture, and vehicles, within the state of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: Durable goods spending is a key indicator of consumer demand and economic activity in North Carolina, providing insights into the state's economic health and consumer confidence.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by policymakers, economists, and businesses to assess North Carolina's economic performance and make informed decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical delay of 2-3 months between the reference period and the data publication.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods for North Carolina (NCPCEDURG), retrieved from FRED.