Personal Consumption Expenditures: Goods: Durable Goods: Other Durable Goods for South Carolina
SCPCEODURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,104.10
Year-over-Year Change
72.58%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures household spending on durable goods, excluding motor vehicles and parts, in South 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 (PCE) indicator tracks the value of goods and services purchased by consumers. The 'Other Durable Goods' component specifically measures spending on items expected to last more than three years, such as furniture, appliances, and recreational equipment.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is used by policymakers and analysts to assess the health of the South Carolina economy and consumer confidence.
Key Facts
- South Carolina's 'Other Durable Goods' spending accounts for around 10% of total personal consumption expenditures.
- This metric saw a significant decline during the 2008-2009 recession but has since recovered to pre-pandemic levels.
- Fluctuations in 'Other Durable Goods' spending can signal changes in consumer confidence and the broader economic environment in South Carolina.
FAQs
Q: What does this economic trend measure?
A: This trend measures household spending on durable goods, excluding motor vehicles and parts, in the state of South Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and the overall health of the South Carolina economy, which is valuable for policymakers and economic analysts.
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: Policymakers and analysts use this trend to assess consumer confidence and economic activity in South Carolina, which can inform policy decisions and market forecasts.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, but there may be a lag of several weeks between the reference period and the publication of the latest figures.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Other Durable Goods for South Carolina (SCPCEODURG), retrieved from FRED.