Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Illinois
ILPCEPCDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,493.00
Year-over-Year Change
81.77%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Illinois' trend measures consumer spending on long-lasting goods in Illinois. It is a key indicator of economic activity and consumer confidence.
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 metric tracks inflation-adjusted per capita personal consumption expenditures on durable goods, such as motor vehicles, furniture, and appliances, by Illinois residents. It provides insights into consumer demand and spending patterns within the state.
Methodology
The data is collected by the U.S. Bureau of Economic Analysis through household surveys and other economic reporting.
Historical Context
Policymakers and analysts use this trend to assess consumer spending and the health of the Illinois economy.
Key Facts
- Illinois residents spent an average of $6,700 on durable goods in 2021.
- Durable goods account for about 25% of total personal consumption in Illinois.
- Durable goods spending declined by 7% in Illinois during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on durable goods, such as motor vehicles, furniture, and appliances, by Illinois residents.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and spending patterns within Illinois, which is a key indicator of economic activity and consumer confidence.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Economic Analysis through household surveys and other economic reporting.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess consumer spending and the health of the Illinois economy, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is typically released with a 2-3 month delay and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Illinois (ILPCEPCDURG), retrieved from FRED.