Real Per Capita Personal Income: Metropolitan Portion for Alabama
ALMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,521.00
Year-over-Year Change
20.06%
Date Range
1/1/2008 - 1/1/2023
Summary
This trend measures the real per capita personal income for the metropolitan portion of Alabama. It is an important indicator of economic well-being and purchasing power for residents in urban areas of the 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
Real per capita personal income represents the average inflation-adjusted income per person. The metropolitan portion focuses on the urban areas of Alabama, which account for a significant share of the state's economic activity and population.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by policymakers, economists, and businesses to assess the economic conditions and consumer demand in Alabama's metropolitan regions.
Key Facts
- Alabama's metropolitan areas account for over 70% of the state's population.
- Real per capita personal income in Alabama's metro regions has grown by 25% over the past decade.
- The metropolitan portion of personal income is a key indicator of consumer spending and economic vitality.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) per capita personal income for the metropolitan portion of Alabama, focusing on the state's urban areas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the purchasing power and economic well-being of residents in Alabama's metropolitan regions, which are crucial drivers of the state's economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and businesses use this metric to assess economic conditions and consumer demand in Alabama's urban areas, informing decision-making and policy development.
Q: Are there update delays or limitations?
A: The data is published with a delay of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Metropolitan Portion for Alabama (ALMPRPIPC), retrieved from FRED.