Consumer Unit Characteristics: Number of Vehicles by Region: Residence in the Midwest Census Region
CXUVEHICLESLB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.00
Year-over-Year Change
0.00%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures the number of vehicles owned by consumer units residing in the Midwest Census Region of the United States. It provides insights into regional differences in vehicle ownership, which is a key indicator of household wealth and consumer demand.
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 'Number of Vehicles by Region: Residence in the Midwest Census Region' data series tracks the average number of vehicles per consumer unit in the Midwest region. This metric is used by economists and policymakers to analyze regional patterns in transportation, consumer spending, and household finances.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey, which samples thousands of households nationwide.
Historical Context
Trends in Midwest vehicle ownership are relevant for understanding regional economic conditions and informing transportation and energy policies.
Key Facts
- The average number of vehicles per consumer unit in the Midwest is 2.4.
- Vehicle ownership in the Midwest is higher than the national average.
- Midwest vehicle ownership has increased over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average number of vehicles owned by consumer units residing in the Midwest Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: Trends in Midwest vehicle ownership provide insights into regional patterns of consumer spending, household wealth, and transportation usage, which are important for economic analysis and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey, which samples thousands of households nationwide.
Q: How is this trend used in economic policy?
A: Midwest vehicle ownership data is used by economists and policymakers to understand regional economic conditions and inform transportation, energy, and consumer spending policies.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the U.S. Federal Reserve, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, Consumer Unit Characteristics: Number of Vehicles by Region: Residence in the Midwest Census Region (CXUVEHICLESLB1103M), retrieved from FRED.