Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Pennsylvania
PAPCEPCRECGD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,039.00
Year-over-Year Change
67.54%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures the per capita personal consumption expenditures on durable goods for recreational purposes in Pennsylvania. It provides insights into consumer spending patterns and the state's economic conditions.
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 Pennsylvania metric tracks the average amount spent by residents on durable goods for recreational activities, such as vehicles, sports equipment, and entertainment devices. This data is a key indicator of consumer demand and confidence 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 economists, policymakers, and businesses to understand consumer behavior and make informed decisions about economic policy and market strategies.
Key Facts
- Pennsylvania's per capita recreational goods and vehicles spending was $2,522 in 2021.
- This trend has increased by 7.3% over the past 5 years.
- Durable goods account for over 20% of total personal consumption expenditures in Pennsylvania.
FAQs
Q: What does this economic trend measure?
A: This trend measures the per capita personal consumption expenditures on durable goods for recreational purposes in Pennsylvania, such as vehicles, sports equipment, and entertainment devices.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer spending patterns and the state's economic conditions, which is valuable information for economists, policymakers, and businesses when making decisions.
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 economists and policymakers to understand consumer behavior and make informed decisions about economic policy and market strategies.
Q: Are there update delays or limitations?
A: The data is published on a regular basis by the U.S. Federal Reserve, but there may be some delays in the release of the most recent figures.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Pennsylvania (PAPCEPCRECGD), retrieved from FRED.