Real Personal Income for Arizona
AZRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
381,769.10
Year-over-Year Change
54.29%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income for Arizona (AZRPI) measures the total personal income of Arizona residents, adjusted for inflation. It is a key indicator of the state's economic well-being and standard of living.
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
AZRPI represents the purchasing power of Arizonans' personal income, providing insights into consumer spending, saving, and economic activity in the state. It is widely used by policymakers, analysts, and businesses to gauge the financial health and consumer confidence of Arizona residents.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using income and price data.
Historical Context
AZRPI is an important metric for understanding Arizona's economic conditions and trends, with implications for policy decisions, investment strategies, and market forecasting.
Key Facts
- Arizona's real personal income grew by 3.2% in 2021.
- AZRPI reached a record high of $326 billion in Q4 2021.
- Personal income is a key driver of consumer spending in Arizona.
FAQs
Q: What does this economic trend measure?
A: The Real Personal Income for Arizona (AZRPI) measures the total personal income of Arizona residents, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: AZRPI provides insights into the purchasing power and financial health of Arizona consumers, with implications for the state's economic activity and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using income and price data.
Q: How is this trend used in economic policy?
A: AZRPI is an important metric for policymakers, analysts, and businesses to gauge Arizona's economic conditions and consumer confidence, informing policy decisions, investment strategies, and market forecasting.
Q: Are there update delays or limitations?
A: AZRPI data is released quarterly with a slight delay, reflecting the time required to collect and process the underlying income and price information.
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Citation
U.S. Federal Reserve, Real Personal Income for Arizona (AZRPI), retrieved from FRED.