Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Florida
FLPCEPCVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,466.00
Year-over-Year Change
103.47%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Florida' measures consumer spending on durable goods like cars and car parts in the state of Florida.
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
This economic indicator tracks consumer demand for durable goods, which is an important component of overall economic activity. It provides insights into Florida's retail market and consumer confidence.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of consumer spending.
Historical Context
Policymakers and analysts use this metric to gauge the health of Florida's consumer economy.
Key Facts
- Florida's per capita spending on motor vehicles and parts was $2,543 in 2021.
- Durable goods account for around 30% of total personal consumption expenditures in Florida.
- This indicator declined sharply during the COVID-19 pandemic but has since rebounded.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks per capita consumer spending on durable goods like motor vehicles and parts in the state of Florida.
Q: Why is this trend relevant for users or analysts?
A: It provides insights into consumer demand and confidence in Florida's retail market, which is an important component of the state's overall economic health.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through surveys of consumer spending.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the strength of Florida's consumer economy and make informed decisions about fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Florida (FLPCEPCVEH), retrieved from FRED.