Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Arkansas
ARPCEPCVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,058.00
Year-over-Year Change
70.79%
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 Arkansas. 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 Arkansas trend tracks the average amount spent by Arkansas residents on motor vehicles and related products. This metric is a key indicator of consumer confidence and economic activity in the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys and estimates.
Historical Context
This trend is used by policymakers, economists, and market analysts to assess the health of the Arkansas economy and consumer spending habits.
Key Facts
- Arkansas's per capita motor vehicle spending was $4,324 in 2021.
- Motor vehicle expenditures account for over 30% of Arkansas's total durable goods spending.
- Arkansas's per capita motor vehicle spending has grown by 7.2% on average over the past 5 years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Arkansas on durable goods, specifically motor vehicles and parts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and spending patterns in Arkansas, which is a key indicator of the state's economic health and can inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys and estimates.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this trend to assess the strength of the Arkansas economy and consumer spending habits, which can inform policy decisions and market strategies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a slight delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Arkansas (ARPCEPCVEH), retrieved from FRED.