Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Virginia
VAPCEVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,669.40
Year-over-Year Change
76.36%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Virginia' trend measures consumer spending on durable motor vehicles and parts in the state of Virginia. This metric is a key indicator of economic activity and consumer confidence.
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
This series represents household purchases of durable motor vehicles and parts in Virginia. It is a component of the broader Personal Consumption Expenditures (PCE) index, which is the primary measure of consumer spending in the U.S. economy. Economists and policymakers closely monitor this data to assess consumer demand and gauge the health of the automotive industry.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and households.
Historical Context
This trend provides insights into consumer spending patterns that inform economic policy decisions and market analysis.
Key Facts
- Motor vehicles and parts account for a significant portion of durable goods spending.
- Virginia's motor vehicle and parts expenditures reflect the state's economic conditions.
- Fluctuations in this trend can signal changes in consumer confidence and economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on durable motor vehicles and parts in the state of Virginia, which is a component of the broader Personal Consumption Expenditures (PCE) index.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and the health of the automotive industry, which are important indicators of economic activity and consumer confidence.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and households.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to assess consumer spending patterns and make informed decisions regarding economic policies and market interventions.
Q: Are there update delays or limitations?
A: There may be some delays in the reporting of this data, and the trend may not capture all aspects of consumer spending on motor vehicles and parts in Virginia.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Virginia (VAPCEVEH), retrieved from FRED.