Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Massachusetts
MAPCEPCDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,723.00
Year-over-Year Change
62.31%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on durable goods in Massachusetts. It provides insights into consumer demand and spending patterns within 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
Per capita personal consumption expenditures on durable goods is an important economic indicator that tracks the total value of goods purchased by Massachusetts residents, divided by the state's population. It offers a snapshot of consumer spending behavior and can inform policy decisions.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys.
Historical Context
Policymakers and analysts use this trend to assess the economic health and consumer confidence in Massachusetts.
Key Facts
- Massachusetts per capita durable goods expenditures averaged $5,850 in 2021.
- Durable goods account for about 30% of total personal consumption in Massachusetts.
- This trend has shown steady growth over the past decade, reflecting a strengthening state economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the per capita personal consumption expenditures on durable goods, such as automobiles, appliances, and furniture, by residents of Massachusetts.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and spending patterns within Massachusetts, which is crucial for understanding the state's economic health and consumer confidence.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the economic conditions in Massachusetts and inform policy decisions that may impact consumer spending and the overall state economy.
Q: Are there update delays or limitations?
A: The data is typically released on a quarterly basis, with a slight delay to allow for data collection and processing.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Massachusetts (MAPCEPCDURG), retrieved from FRED.