Why Use This Data Source In Your Models?
Household debt service payments as a percent of disposable personal income describes the size of typical debt payments in the US as well as typical disposibal income. This can describe consumer behavior & overall economic health.
Hhld Debt Service Payments; % of Disposable Income
U.S. Census Bureau
Percent of Disposable Personal Income, Seasonally Adjusted
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Order Norm transformation, provides the best normality, the Exponential variable will also perform well.
Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Following first order differencing, no further differencing is required based on the differenced ACF at lag one of -0.39
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.09 p-value = 0.10 indicates that the data is stationary.
The Shapiro-Wilk test returned W = 0.82 with a p-value =0.00 indicating the data does not follow a normal distribution.
A skewness score of -1.78 indicates the data are substantially skewed.
Hartigan's dip test score of 0.03 with a p-value of 0.99 inidcates the data is unimodal
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal and Trend Decompostion
Board of Governors of the Federal Reserve System (US), Household Debt Service Payments as a Percent of Disposable Personal Income [TDSP], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/TDSP, December 13, 2019.
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