Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Colorado
COPCEVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,360.30
Year-over-Year Change
135.32%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures consumer spending on durable goods, specifically motor vehicles and parts, in the state of Colorado. It provides insights into the strength of the Colorado consumer and automotive industries.
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 Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Colorado (COPCEVEH) series tracks consumer spending on durable goods related to the automotive sector within the state. This metric is used by economists and policymakers to gauge the health of the Colorado economy and consumer demand.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of businesses and households.
Historical Context
This trend is closely monitored by local and state governments, as well as the automotive industry, to inform economic policy and business decisions.
Key Facts
- Colorado is a major auto manufacturing hub.
- Motor vehicle sales account for a significant portion of retail activity in the state.
- Consumer spending on durable goods is a leading indicator of economic health.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on durable goods, specifically motor vehicles and parts, within the state of Colorado.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the strength of consumer demand and the health of the automotive industry in Colorado, which are key drivers 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 businesses and households.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by local and state governments, as well as the automotive industry, to inform economic policy and business decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis, with a typical lag of 1-2 months.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Colorado (COPCEVEH), retrieved from FRED.