Real Personal Income: Metropolitan Portion for Arkansas
ARMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
120,216,281.00
Year-over-Year Change
52.18%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income: Metropolitan Portion for Arkansas trend measures the inflation-adjusted personal income of residents in metropolitan areas of Arkansas. This metric is important for understanding 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
This series represents the real personal income of residents in metropolitan statistical areas (MSAs) within the state of Arkansas. It provides insights into the purchasing power and economic well-being of Arkansans living in urban areas, which account for a significant portion of the state's population and economic activity.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income estimates and regional price parities.
Historical Context
Policymakers and economists use this trend to evaluate the economic health and cost of living in Arkansas' metropolitan regions.
Key Facts
- Arkansas' metropolitan real personal income was $48,352 in 2021.
- The metropolitan portion accounts for over 70% of Arkansas' total personal income.
- Real personal income growth in Arkansas' metro areas outpaced the national average from 2016 to 2021.
FAQs
Q: What does this economic trend measure?
A: The Real Personal Income: Metropolitan Portion for Arkansas trend measures the inflation-adjusted personal income of residents living in metropolitan statistical areas within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic well-being and purchasing power of Arkansans residing in the state's urban centers, which are crucial to understanding the overall economic conditions in Arkansas.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income estimates and regional price parities.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate the economic health and cost of living in Arkansas' metropolitan regions, which can inform decisions around economic development, infrastructure investment, and social welfare programs.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 3-6 months after the end of the reporting period. Additionally, the metropolitan portion may not capture economic conditions in all parts of the state.
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Citation
U.S. Federal Reserve, Real Personal Income: Metropolitan Portion for Arkansas (ARMPRPI), retrieved from FRED.