Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Idaho
IDPCEPCVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,304.00
Year-over-Year Change
134.38%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Idaho' metric tracks consumer spending on durable motor vehicle goods in Idaho. It serves as an important indicator of economic activity and consumer confidence in the state.
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 series measures the per capita personal consumption expenditures on durable motor vehicle goods, including new and used cars, trucks, and parts, by Idaho residents. It provides insights into consumer demand and spending patterns within the durable goods sector of the Idaho economy.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through surveys of consumer expenditures.
Historical Context
Policymakers and analysts use this metric to assess the health of Idaho's automotive industry and gauge consumer sentiment in the state.
Key Facts
- Per capita spending on motor vehicles and parts in Idaho reached a peak of $4,849 in 2021.
- Motor vehicle and parts expenditures account for approximately 30% of total durable goods spending in Idaho.
- The COVID-19 pandemic caused a temporary decline in per capita motor vehicle spending in Idaho in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric measures the per capita personal consumption expenditures on durable motor vehicle goods, including new and used cars, trucks, and parts, by Idaho residents.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and spending patterns within the durable goods sector of the Idaho economy, which is crucial for assessing the health of the state's automotive industry and consumer sentiment.
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 expenditures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the health of Idaho's automotive industry and gauge consumer sentiment in the state, which informs economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically around 3 months after the end of the reference period, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for Idaho (IDPCEPCVEH), retrieved from FRED.