Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for North Carolina
NCPCEPCVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,473.00
Year-over-Year Change
102.54%
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, in the state of North Carolina. It provides insights into consumer spending patterns and the health of the local automobile industry.
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 North Carolina metric tracks the average amount spent by North Carolina residents on durable goods like cars, trucks, and related parts. It is a valuable indicator of consumer demand and economic activity in the state's automotive sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on survey responses and other economic indicators.
Historical Context
This trend is closely monitored by policymakers, economists, and industry analysts to assess the strength of North Carolina's consumer economy and make informed decisions.
Key Facts
- North Carolina is a major automotive manufacturing hub in the U.S.
- Durable goods account for a significant portion of consumer spending in the state.
- Motor vehicle sales are a key indicator of economic health and consumer confidence.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent by North Carolina residents on durable goods, specifically motor vehicles and related parts, per capita.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the strength of the automotive industry in North Carolina, which is a critical sector for the state's economy.
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 survey responses and other economic indicators.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and industry analysts use this trend to assess the health of North Carolina's consumer economy and make informed decisions about economic policies and market strategies.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for North Carolina (NCPCEPCVEH), retrieved from FRED.