Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Alabama
ALPCEPCDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,531.00
Year-over-Year Change
84.31%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Alabama' trend measures consumer spending on durable goods in Alabama. It 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 metric represents Alabama residents' per capita spending on long-lasting consumer products like automobiles, furniture, and appliances. It provides insight into household consumption patterns and can signal shifts in consumer demand and purchasing power.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through household surveys and other economic reporting.
Historical Context
Policymakers and market analysts closely monitor this trend to assess the health of Alabama's consumer economy.
Key Facts
- Alabama per capita durable goods spending reached a high of $5,600 in 2021.
- Durable goods account for over 25% of total personal consumption in Alabama.
- Consumer spending on durable goods is closely tied to employment and income levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita consumer spending on durable goods, such as automobiles, furniture, and appliances, by residents of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into household consumption patterns and consumer confidence in Alabama, which are key indicators of the state's economic health.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through household surveys and other economic reporting.
Q: How is this trend used in economic policy?
A: Policymakers and market analysts closely monitor this trend to assess the health of Alabama's consumer economy and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly and may be subject to minor revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Alabama (ALPCEPCDURG), retrieved from FRED.