Expenditures: Other Vehicle Expenses by Region: Residence in the Midwest Census Region
CXUVEHOTHXPLB1103M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,719.00
Year-over-Year Change
67.30%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures spending on other vehicle expenses, such as insurance, maintenance, and fees, by households residing in the Midwest census region of the United States. It provides insights into a key component of consumer expenditures.
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 Midwest Census Region' series tracks monthly outlays on vehicle-related costs excluding fuel for consumers living in the Midwest. This data is used by economists to analyze regional differences in transportation-related spending patterns.
Methodology
The data is collected through the Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This trend is relevant for understanding consumer behavior and informing policymakers on regional economic conditions.
Key Facts
- Midwest households spent an average of $305 per month on other vehicle expenses in 2022.
- Other vehicle expenses account for approximately 10% of total household transportation costs in the Midwest.
- Spending on vehicle insurance, maintenance, and fees has increased by 7% in the Midwest since 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures monthly spending on other vehicle-related expenses, excluding fuel, by households residing in the Midwest census region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into a key component of consumer expenditures and can be used to analyze regional differences in transportation-related spending patterns.
Q: How is this data collected or calculated?
A: The data is collected through the Bureau of Labor Statistics' Consumer Expenditure Survey.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding consumer behavior and informing policymakers on regional economic conditions.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Expenditures: Other Vehicle Expenses by Region: Residence in the Midwest Census Region (CXUVEHOTHXPLB1103M), retrieved from FRED.