Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for North Dakota
NDPCEPCRECGD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,329.00
Year-over-Year Change
71.63%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on durable recreational goods and vehicles in North Dakota. It provides insights into consumer demand and spending patterns in 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
The Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for North Dakota represents the average amount spent per person in the state on durable goods used for recreational purposes, such as vehicles, equipment, and other products. This metric is valuable for analyzing consumer behavior and trends in the durable goods sector.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal consumption expenditure surveys and other economic indicators.
Historical Context
This trend is closely watched by policymakers, economists, and businesses to gauge consumer confidence and spending habits in North Dakota.
Key Facts
- North Dakota's per capita recreational goods and vehicles spending was $4,108 in 2021.
- Durable goods account for around 25% of total personal consumption expenditures in North Dakota.
- Recreational goods and vehicle spending has grown by 6.2% annually in North Dakota over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average per capita spending by consumers in North Dakota on durable goods used for recreational purposes, such as vehicles, equipment, and other products.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into consumer demand and spending patterns in North Dakota, which is important for understanding the state's economic conditions and outlook.
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 other economic indicators.
Q: How is this trend used in economic policy?
A: This trend is closely watched by policymakers, economists, and businesses to gauge consumer confidence and spending habits in North Dakota, which can inform economic and policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated quarterly, with a delay of several months. There may also be limitations in the sample size or coverage of certain consumer segments.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for North Dakota (NDPCEPCRECGD), retrieved from FRED.