Real Personal Income for Alabama
ALRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
255,620.70
Year-over-Year Change
26.93%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income for Alabama trend measures inflation-adjusted personal income for residents of the state of Alabama. It is a key indicator of economic conditions and living standards in 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 personal income is a measure of the purchasing power of Alabamians, taking into account both their nominal income and changes in the cost of living. This metric is closely watched by policymakers and economists to gauge the overall health of the state's economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income figures and the national Personal Consumption Expenditures price index.
Historical Context
Trends in real personal income help inform economic and fiscal policy decisions at the state level.
Key Facts
- Alabama's real personal income has grown by 15% over the past decade.
- Residents of Alabama have a real per capita personal income of $47,000.
- The real personal income trend is a reliable predictor of consumer spending in Alabama.
FAQs
Q: What does this economic trend measure?
A: The Real Personal Income for Alabama trend measures inflation-adjusted personal income for residents of the state of Alabama.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers and economists to gauge the overall health of Alabama's economy and living standards.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income figures and the national Personal Consumption Expenditures price index.
Q: How is this trend used in economic policy?
A: Trends in real personal income help inform economic and fiscal policy decisions at the state level in Alabama.
Q: Are there update delays or limitations?
A: The real personal income data for Alabama is published quarterly with a lag of several months.
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Citation
U.S. Federal Reserve, Real Personal Income for Alabama (ALRPI), retrieved from FRED.