Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Illinois
ILPCEFUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,213.20
Year-over-Year Change
83.74%
Date Range
1/1/1997 - 1/1/2023
Summary
This trend measures consumer spending on durable household furnishings and equipment in Illinois. It provides insights into the strength of the state's durable goods sector and consumer demand.
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 Illinois series tracks consumer spending on items like furniture, appliances, and other durable household goods purchased by Illinois residents. This metric is used to assess the health of the state's consumer economy and its durable goods manufacturing industry.
Methodology
The data is collected through surveys of households and businesses in Illinois.
Historical Context
Policymakers and economists monitor this trend to gauge consumer confidence and spending patterns in the state.
Key Facts
- Durable goods account for around 20% of total personal consumption in Illinois.
- Spending on furnishings and household equipment makes up about 15% of durable goods expenditures.
- Illinois residents' durable goods spending closely tracks national trends.
FAQs
Q: What does this economic trend measure?
A: This trend measures consumer spending on durable household furnishings and equipment in the state of Illinois.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the strength of Illinois' durable goods sector and consumer demand within the state.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses located in Illinois.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor this trend to gauge consumer confidence and spending patterns in the Illinois economy.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have publication lags of several weeks.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Illinois (ILPCEFUR), retrieved from FRED.