Expenditures: Other Vehicle Expenses by Region: Residence in the Northeast Census Region
CXUVEHOTHXPLB1102M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,018.00
Year-over-Year Change
59.51%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures household expenditures on other vehicle expenses, such as insurance, maintenance, and registration fees, for residents in the Northeast Census Region of the United States. It provides insights into regional consumer spending patterns related to vehicle ownership and operation.
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: Other Vehicle Expenses by Region: Residence in the Northeast Census Region' data series tracks monthly household spending on various non-fuel vehicle costs for consumers living in the Northeast region. This metric is used by economists and policymakers to analyze regional variations in consumer behavior and transportation-related costs.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This trend is relevant for understanding regional differences in transportation-related household expenditures, which can inform policy decisions and market analysis.
Key Facts
- The Northeast region includes Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
- Other vehicle expenses account for approximately 3% of total household expenditures in the Northeast region.
- Vehicle maintenance and insurance are the largest components of other vehicle expenses in the Northeast.
FAQs
Q: What does this economic trend measure?
A: This trend measures household expenditures on other vehicle-related costs, such as insurance, maintenance, and registration fees, for consumers residing in the Northeast Census Region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into regional variations in consumer spending patterns related to vehicle ownership and operation, which can inform transportation policy, market analysis, and household budgeting 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.
Q: How is this trend used in economic policy?
A: This trend can be used by policymakers and economists to understand regional differences in transportation-related household expenditures, which can inform decisions about infrastructure investment, taxation, and other transportation-related policies.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately two months, so there may be a delay in accessing the most recent information.
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Citation
U.S. Federal Reserve, Expenditures: Other Vehicle Expenses by Region: Residence in the Northeast Census Region (CXUVEHOTHXPLB1102M), retrieved from FRED.