Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Rhode Island
RIPCEPCRECGD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,242.00
Year-over-Year Change
65.38%
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 Rhode Island. It provides insights into consumer spending and demand for discretionary goods.
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 Rhode Island tracks inflation-adjusted spending by Rhode Island residents on items like televisions, sporting equipment, and motor vehicles. This metric is used to analyze consumer confidence and discretionary income at the state level.
Methodology
The data is collected through household surveys and compiled by the U.S. Bureau of Economic Analysis.
Historical Context
Economists and policymakers monitor this trend to assess the economic health and purchasing power of Rhode Island consumers.
Key Facts
- Rhode Island residents spent an average of $4,302 per person on recreational durable goods in 2021.
- Recreational durable goods account for about 15% of total per capita consumer spending in Rhode Island.
- This trend has shown steady growth, increasing by 24% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures per capita personal consumption expenditures on durable recreational goods and vehicles in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into consumer demand and discretionary spending in Rhode Island, which is an important indicator of economic health and consumer confidence at the state level.
Q: How is this data collected or calculated?
A: The data is collected through household surveys by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the purchasing power and spending patterns of Rhode Island consumers, which informs decisions around fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately three months.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Recreational Goods and Vehicles for Rhode Island (RIPCEPCRECGD), retrieved from FRED.