Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Ohio
OHPCEPCDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,958.00
Year-over-Year Change
82.20%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Ohio' series measures consumer spending on durable goods in Ohio. This metric is a key indicator of economic activity and consumer confidence 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
This data series tracks personal consumption expenditures on durable goods, which are long-lasting consumer products, by Ohio residents. It is a valuable indicator of consumer demand and spending patterns in the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through household surveys and other economic reporting.
Historical Context
Policymakers and analysts use this metric to assess the economic health and consumer confidence within Ohio.
Key Facts
- Ohio residents spent an average of $8,400 on durable goods in 2021.
- Durable goods account for about 30% of total personal consumption in Ohio.
- Durable goods spending in Ohio has grown by 4.2% annually over the past 10 years.
FAQs
Q: What does this economic trend measure?
A: This series measures the per capita personal consumption expenditures on durable goods by Ohio residents. Durable goods are long-lasting consumer products like automobiles, appliances, and furniture.
Q: Why is this trend relevant for users or analysts?
A: Durable goods spending is a key indicator of consumer confidence and economic activity within Ohio. It provides insight into household purchasing patterns and the overall strength of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of Ohio households and other economic reporting.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess consumer demand, gauge economic health, and inform fiscal and monetary policy decisions affecting the Ohio economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months. There may also be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Ohio (OHPCEPCDURG), retrieved from FRED.