Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Maryland
MDPCEPCDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,952.00
Year-over-Year Change
55.00%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on durable goods in the state of Maryland. It provides insights into consumer spending patterns and the health of the state's economy.
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 Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Maryland trend tracks the average amount of money spent by Maryland residents on durable goods, such as furniture, appliances, and vehicles. This metric is used by economists and policymakers to analyze consumer demand and economic activity within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and economic accounts.
Historical Context
This trend is closely monitored by state and federal policymakers to inform economic and fiscal policies.
Key Facts
- Maryland's per capita durable goods expenditures averaged $8,500 in 2021.
- Durable goods account for around 30% of total personal consumption in Maryland.
- Durable goods spending is a key indicator of consumer confidence and economic growth.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount of money spent by Maryland residents on durable goods, such as furniture, appliances, and vehicles.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer spending patterns and the overall health of Maryland's economy, which is useful for economists, policymakers, and businesses operating in the state.
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 and economic accounts.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and federal policymakers to inform economic and fiscal policies, as it reflects consumer demand and economic activity within Maryland.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months, so the most recent quarter's figures may not be available immediately.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Maryland (MDPCEPCDURG), retrieved from FRED.