Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Virginia
VAPCEPCVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,142.00
Year-over-Year Change
64.01%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on durable goods, specifically motor vehicles and parts, per capita in Virginia. It provides insights into consumer demand and spending patterns 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 Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Virginia series tracks the average per-person spending on motor vehicles and related parts by residents of the state. This metric is used by economists and policymakers to analyze consumer behavior and the health of the automotive industry in the region.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on consumer surveys and economic reports.
Historical Context
This trend is relevant for understanding the state of the Virginia economy and informing policy decisions related to the automotive and retail sectors.
Key Facts
- Virginia's per capita motor vehicle spending was $3,258 in 2021.
- This metric has increased by 7.2% on average over the past 5 years.
- Durable goods account for over 20% of total personal consumption in Virginia.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average per-person spending on motor vehicles and related parts by residents of Virginia.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and spending patterns in the automotive industry, which is an important part of the Virginia 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 consumer surveys and economic reports.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the state of the Virginia economy and inform decisions related to the automotive and retail sectors.
Q: Are there update delays or limitations?
A: There may be a lag of several months between the end of the reporting period and the release of the data.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Virginia (VAPCEPCVEH), retrieved from FRED.