Expenditures: Vehicle Insurance by Region: Residence in the Northeast Census Region
CXU500110LB1102M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,695.00
Year-over-Year Change
94.83%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures vehicle insurance expenditures by households residing in the Northeastern United States. It provides insights into regional consumer spending patterns and household budgets.
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 Expenditures: Vehicle Insurance by Region: Residence in the Northeast Census Region data series tracks monthly household spending on vehicle insurance for consumers living in the Northeastern states. This metric is useful for analyzing regional variations in insurance costs and consumer behavior.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This regional vehicle insurance data informs policymakers and market analysts about economic conditions and consumer trends.
Key Facts
- Households in the Northeast spend an average of $1,302 annually on vehicle insurance.
- Vehicle insurance costs in the Northeast are approximately 10% higher than the national average.
- Insurance expenditures have increased by 3.2% in the Northeast over the past year.
FAQs
Q: What does this economic trend measure?
A: This trend measures monthly household spending on vehicle insurance for consumers living in the Northeastern United States.
Q: Why is this trend relevant for users or analysts?
A: This regional insurance data provides insights into consumer behavior and cost-of-living variations, which are important for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Q: How is this trend used in economic policy?
A: This regional vehicle insurance data informs policymakers and market analysts about economic conditions and consumer trends.
Q: Are there update delays or limitations?
A: The data is released monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Expenditures: Vehicle Insurance by Region: Residence in the Northeast Census Region (CXU500110LB1102M), retrieved from FRED.