Personal Consumption Expenditures: Goods: Durable Goods for Ohio
OHPCEDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
70,215.60
Year-over-Year Change
85.77%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on durable goods in the state of Ohio. It provides insight into consumer demand and the health of the local economy.
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 Ohio trend represents household spending on long-lasting products like automobiles, appliances, and furniture within the state. It is a key indicator of consumer confidence and economic activity in the region.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
This metric helps policymakers and analysts assess consumer behavior and predict broader economic trends in Ohio.
Key Facts
- Ohio's durable goods expenditures account for approximately 25% of total personal consumption.
- Durable goods spending tends to be more volatile than non-durable goods during economic cycles.
- Consumer demand for durable goods is a leading indicator of broader economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on durable goods, such as automobiles, appliances, and furniture, within the state of Ohio.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and confidence in the Ohio economy, which is crucial for policymakers and businesses to monitor.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use this metric to assess consumer behavior and predict broader economic trends in Ohio, which can inform decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be a 1-2 month delay in the most recent figures being available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods for Ohio (OHPCEDURG), retrieved from FRED.