Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Great Lakes BEA Region
GLAKPCEFUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
63,172.20
Year-over-Year Change
86.38%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on durable household furnishings and equipment in the Great Lakes region. It provides insights into consumer demand and regional economic activity.
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 Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Great Lakes BEA Region is a key economic indicator that tracks consumer spending on durable household items like furniture, appliances, and home decor. This data point is used to analyze regional consumer trends and gauge the strength of the local economy.
Methodology
The data is collected through household surveys and retail sales reports by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is closely watched by policymakers, economists, and businesses to understand broader consumer behavior and spending patterns.
Key Facts
- Durable goods account for around 20% of total personal consumption expenditures.
- Furnishings and household equipment are the second-largest component of durable goods spending.
- The Great Lakes region includes Illinois, Indiana, Michigan, Ohio, and Wisconsin.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on durable household furnishings and equipment in the Great Lakes region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and regional economic activity, which is valuable for policymakers, businesses, and economists analyzing broader economic trends.
Q: How is this data collected or calculated?
A: The data is collected through household surveys and retail sales reports by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This metric is closely watched by policymakers, economists, and businesses to understand consumer behavior and spending patterns, which informs economic decision-making and policy.
Q: Are there update delays or limitations?
A: There may be some delay in data availability, as the information is collected through surveys and reports. Users should check the most recent publication date to understand any potential limitations.
Related Trends
Chain-Type Quantity Index for Real GDP: Other Transportation Equipment Manufacturing (3364-3466, 3369) in the Great Lakes BEA Region
GLAKOTRANEQMANQGSP
Chain-Type Quantity Index for Real GDP: Furniture and Related Product Manufacturing (337) in the Great Lakes BEA Region
GLAKFURNMANQGSP
Gross Domestic Product: Nondurable Goods Manufacturing (311-316, 322-326) in the Great Lakes BEA Region
GLAKNDURMANNQGSP
Real Gross Domestic Product: Accommodation and Food Services (72) in the Great Lakes BEA Region
GLAKACCFDRGSP
Gross Domestic Product: Mining (Except Oil and Gas) (212) in the Great Lakes BEA Region
GLAKMINEXOILGASNGSP
Gross Domestic Product: Educational Services (61) in the Great Lakes BEA Region
GLAKEDCATNGSP
Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Great Lakes BEA Region (GLAKPCEFUR), retrieved from FRED.