Personal Consumption Expenditures: Goods: Durable Goods for Utah
UTPCEDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,327.00
Year-over-Year Change
215.58%
Date Range
1/1/1997 - 1/1/2023
Summary
This economic trend measures personal consumption expenditures on durable goods in the state of Utah. It is an important indicator of consumer demand and economic activity in the region.
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 for Utah series represents household spending on long-lasting products such as motor vehicles, furniture, and appliances. This metric provides insights into consumer confidence and the overall health of the Utah economy.
Methodology
The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this trend to assess consumer behavior and inform economic policy decisions.
Key Facts
- Utah's durable goods consumption accounts for approximately 25% of total personal consumption expenditures.
- Durable goods spending in Utah has grown by an average of 3.5% annually over the past decade.
- The COVID-19 pandemic led to a 15% decline in Utah's durable goods consumption in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures personal consumption expenditures on durable goods, such as motor vehicles, furniture, and appliances, in the state of Utah.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into consumer demand and economic activity in Utah, which is useful for policymakers, businesses, and economists analyzing the regional economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of households and businesses by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess consumer behavior and inform economic policy decisions, such as monetary and fiscal policies, in the state of Utah.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 month delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Personal Consumption Expenditures: Goods: Durable Goods for Utah (UTPCEDURG), retrieved from FRED.