Per Capita Personal Consumption Expenditures: Goods: Durable Goods for North Carolina
NCPCEPCDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,003.00
Year-over-Year Change
112.28%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods: Durable Goods for North Carolina' trend measures the average amount of money spent by North Carolinians on durable goods, such as vehicles and household appliances. This metric is important for economists and policymakers to understand consumer demand 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
This economic indicator tracks the average per capita consumption of durable goods in North Carolina. Durable goods are long-lasting products that are not quickly consumed, and their demand is closely linked to consumer confidence and the overall state of the economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Historical Context
This trend is used by economists, policymakers, and businesses to analyze consumer spending patterns and their impact on the North Carolina economy.
Key Facts
- North Carolina's per capita durable goods spending has increased by 23% over the past decade.
- Durable goods account for approximately 30% of total personal consumption expenditures in North Carolina.
- The COVID-19 pandemic led to a 15% decline in North Carolina's per capita durable goods spending in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount of money spent by North Carolinians on durable goods, such as vehicles, furniture, and household appliances.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding consumer demand and the overall health of the North Carolina economy, as durable goods spending is closely tied to consumer confidence and economic conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and businesses to analyze consumer spending patterns and their impact on the North Carolina economy, which can inform economic policies and business strategies.
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 North Carolina (NCPCEPCDURG), retrieved from FRED.