Personal Consumption Expenditures: Goods: Durable Goods for North Dakota
NDPCEDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,591.80
Year-over-Year Change
74.89%
Date Range
1/1/1997 - 1/1/2023
Summary
The Personal Consumption Expenditures: Goods: Durable Goods for North Dakota trend measures consumer spending on durable goods in the state. It's 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 the dollar value of goods purchased by North Dakota consumers that are expected to last more than three years, such as automobiles, furniture, and appliances. It provides insights into consumer demand and the overall health of the state's economy.
Methodology
The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this metric to assess North Dakota's economic performance and consumer spending patterns.
Key Facts
- Durable goods account for about 25% of total personal consumption expenditures in North Dakota.
- Consumer spending on durable goods in North Dakota has grown by an average of 3% annually over the past decade.
- The COVID-19 pandemic caused a sharp decline in durable goods spending in North Dakota in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the dollar value of durable goods purchased by consumers in North Dakota, such as automobiles, furniture, and appliances.
Q: Why is this trend relevant for users or analysts?
A: Durable goods spending is a key indicator of consumer confidence and economic activity in North Dakota, providing insights into the overall health of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and households by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess North Dakota's economic performance and consumer spending patterns, which can inform decision-making and policy interventions.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately three months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods for North Dakota (NDPCEDURG), retrieved from FRED.