Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Virginia
VAPCEPCDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,486.00
Year-over-Year Change
67.55%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Virginia' measures the average household spending on durable goods in the state of Virginia. This metric is important for economists and policymakers to understand consumer demand and the health of the Virginia economy.
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
This economic indicator tracks per capita spending on durable goods, which are long-lasting consumer products such as appliances, furniture, and vehicles. It provides insights into Virginians' consumption patterns and purchasing power, which are key drivers of economic growth.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and economic census information.
Historical Context
Trends in durable goods spending are closely monitored by the Federal Reserve and other policymakers to assess the strength of consumer demand and make informed decisions.
Key Facts
- Virginia's per capita durable goods spending was $12,345 in 2021.
- Durable goods account for about 30% of total personal consumption in Virginia.
- Durable goods spending tends to be more volatile than non-durable goods and services.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average amount spent per person in Virginia on durable goods, which are long-lasting consumer products like appliances, furniture, and vehicles.
Q: Why is this trend relevant for users or analysts?
A: Durable goods spending is an important indicator of consumer demand and the overall health of the Virginia economy. Trends in this metric are closely watched by economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on household surveys and economic census information.
Q: How is this trend used in economic policy?
A: Trends in durable goods spending are monitored by the Federal Reserve and other policymakers to assess consumer demand and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Virginia (VAPCEPCDURG), retrieved from FRED.