Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Rhode Island
RIPCEFUR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,396.90
Year-over-Year Change
90.57%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on durable goods like furnishings and household equipment in Rhode Island. It is a key indicator of consumer demand and economic activity 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 Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Rhode Island series tracks consumer spending on items like furniture, appliances, and other long-lasting household goods. This metric provides insight into the economic health and purchasing power of Rhode Island residents.
Methodology
The data is collected through surveys of consumers and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and economists use this trend to assess Rhode Island's economic performance and consumer confidence.
Key Facts
- Rhode Island's furnishings and household equipment spending accounts for about 2% of total personal consumption in the state.
- Durable goods spending tends to be more volatile than non-durable goods due to consumer purchasing patterns.
- Furnishings and equipment expenditures provide a window into household investment and confidence.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on durable goods like furnishings and household equipment in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into consumer demand, household investment, and economic conditions in Rhode Island.
Q: How is this data collected or calculated?
A: The data is collected through consumer and business surveys by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess Rhode Island's economic performance and consumer confidence.
Q: Are there update delays or limitations?
A: There may be a 1-2 month delay in data availability due to the survey-based collection process.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods: Furnishings and Durable Household Equipment for Rhode Island (RIPCEFUR), retrieved from FRED.