Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Utah
UTPCEPCDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,166.00
Year-over-Year Change
160.25%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on durable goods in the state of Utah. It provides insight into consumer spending patterns and the health of the Utah 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
Per capita personal consumption expenditures on durable goods is an important indicator of consumer demand and economic activity in Utah. It tracks the average amount spent by Utah residents on long-lasting products like vehicles, appliances, and furniture.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of household spending.
Historical Context
This trend is used by policymakers, analysts, and businesses to gauge consumer confidence and make informed decisions about investment, production, and economic policy in Utah.
Key Facts
- Utah's per capita durable goods spending was $6,325 in 2021.
- Durable goods account for about 30% of total personal consumption in Utah.
- Durable goods spending tends to be volatile and sensitive to economic conditions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Utah on long-lasting consumer durable goods like vehicles, appliances, and furniture.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand and confidence in the Utah economy, which is important for businesses, policymakers, and economic analysts.
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 surveys of household spending.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to gauge consumer health and make informed decisions about fiscal, monetary, and regulatory policies that impact the Utah economy.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so it may not reflect the most recent economic conditions in Utah.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Utah (UTPCEPCDURG), retrieved from FRED.