Personal Consumption Expenditures: Goods: Durable Goods: Other Durable Goods for Hawaii
HIPCEODURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,027.60
Year-over-Year Change
48.80%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures household spending on durable goods, excluding motor vehicles and parts, in the state of Hawaii. It provides insights into consumer demand and economic activity in the local market.
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: Other Durable Goods for Hawaii indicator tracks consumer spending on a variety of long-lasting household items, such as furniture, appliances, and recreational equipment. This data is used by economists and policymakers to analyze patterns in consumer behavior and evaluate the health of the local economy.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
This trend is closely monitored by businesses, investors, and government agencies to understand consumer spending and its impact on the broader Hawaii economy.
Key Facts
- Hawaii's other durable goods spending accounts for around 3% of total personal consumption expenditures.
- Spending on other durable goods in Hawaii has grown by 15% over the past 5 years.
- The COVID-19 pandemic caused a 20% decline in other durable goods spending in Hawaii in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures household spending on durable goods, excluding motor vehicles and parts, in the state of Hawaii.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into consumer demand and economic activity in the local Hawaii market, which is valuable for businesses, investors, and policymakers.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This trend is closely monitored to understand consumer spending patterns and their impact on the broader Hawaii economy, informing decisions by businesses, investors, and government agencies.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a typical 1-2 month delay.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Other Durable Goods for Hawaii (HIPCEODURG), retrieved from FRED.