Expenditures: Vehicle Maintenance and Repairs: All Consumer Units
CXUCAREPAIRLB0101M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
975.00
Year-over-Year Change
21.12%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures consumer spending on vehicle maintenance and repairs. It is an important indicator of household budgets and consumer demand in the auto industry.
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 Maintenance and Repairs: All Consumer Units' series tracks the average monthly expenditures by U.S. households on services to maintain and repair their vehicles. This metric provides insights into consumer behavior and can signal changes in disposable income.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
Policymakers and analysts monitor this trend to understand consumer spending patterns and the health of the automotive aftermarket.
Key Facts
- The average U.S. household spends over $800 per year on vehicle maintenance and repairs.
- Repair costs are a significant portion of overall transportation expenses for many families.
- Trends in this metric can signal changes in consumer confidence and discretionary spending.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average monthly expenditures by U.S. households on services to maintain and repair their vehicles.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer behavior and can signal changes in disposable income, making it relevant for policymakers and analysts studying the automotive industry and household budgets.
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: Policymakers and analysts monitor this trend to understand consumer spending patterns and the health of the automotive aftermarket, which can inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly by the U.S. Federal Reserve, with occasional revisions to previous periods.
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Citation
U.S. Federal Reserve, Expenditures: Vehicle Maintenance and Repairs: All Consumer Units (CXUCAREPAIRLB0101M), retrieved from FRED.