Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Washington
WAPCEPCDURG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,126.00
Year-over-Year Change
95.82%
Date Range
1/1/1997 - 1/1/2023
Summary
The 'Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Washington' measures the average inflation-adjusted consumer spending on durable goods, such as vehicles and appliances, by residents of Washington 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
This economic indicator provides insights into the consumption patterns and purchasing power of Washington consumers. It is a key metric used by economists and policymakers to assess the state's economic health and consumer confidence.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of consumer spending.
Historical Context
Trends in durable goods consumption can inform monetary and fiscal policy decisions that aim to stimulate or stabilize the economy.
Key Facts
- Washington's per capita durable goods spending was $10,250 in 2021.
- Durable goods account for about 30% of total personal consumption in Washington.
- Durable goods spending tends to be more volatile than non-durable goods and services.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average inflation-adjusted spending by Washington residents on durable goods, which are long-lasting consumer products like vehicles, furniture, and appliances.
Q: Why is this trend relevant for users or analysts?
A: Durable goods spending is an important gauge of consumer confidence and purchasing power, providing insights into the state's economic health and consumer demand.
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 surveys of consumer spending in Washington.
Q: How is this trend used in economic policy?
A: Trends in durable goods consumption inform monetary and fiscal policy decisions that aim to stimulate or stabilize the economy by influencing factors like interest rates and consumer incentives.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of approximately 3 months, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Per Capita Personal Consumption Expenditures: Goods: Durable Goods for Washington (WAPCEPCDURG), retrieved from FRED.