Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for South Dakota
SDPCEPCVEH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,199.00
Year-over-Year Change
90.55%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures per capita personal consumption expenditures on durable goods, specifically motor vehicles and parts, for the state of South Dakota. It provides insights into consumer demand and spending patterns in the state's automotive industry.
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: Motor Vehicles and Parts for South Dakota series tracks the average amount spent per resident in the state on durable goods related to motor vehicles and parts. This metric is used by economists and policymakers to analyze consumer spending behavior and its impact on the state's economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and other economic indicators.
Historical Context
This trend is relevant for understanding the health of South Dakota's automotive and related industries, as well as consumer confidence and spending patterns in the state.
Key Facts
- South Dakota's per capita spending on motor vehicles and parts was $3,456 in 2021.
- This trend has shown a steady increase over the past decade, reflecting the state's growing automotive market.
- Durable goods, including motor vehicles, account for over 25% of personal consumption expenditures in South Dakota.
FAQs
Q: What does this economic trend measure?
A: This trend measures the per capita personal consumption expenditures on durable goods, specifically motor vehicles and parts, for the state of South Dakota.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and spending patterns in South Dakota's automotive industry, which is crucial for understanding the state's economic health and consumer confidence.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on surveys and other economic indicators.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze consumer spending behavior and its impact on South Dakota's economy, particularly in the automotive and related industries.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, and there may be some delays in reporting due to the time required for data collection and analysis.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods: Motor Vehicles and Parts for South Dakota (SDPCEPCVEH), retrieved from FRED.