Real Per Capita Personal Income: Metropolitan Portion for Connecticut
CTMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
72,246.00
Year-over-Year Change
13.75%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Metropolitan Portion for Connecticut measures the average real personal income of Connecticut residents living in metropolitan areas. This metric is important for economists and policymakers to assess the economic well-being and purchasing power of the state's urban population.
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 (inflation-adjusted) per capita personal income specifically for the metropolitan portion of Connecticut. It is used to analyze trends in the economic conditions and living standards of Connecticut's urban residents compared to the state as a whole.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Historical Context
This metric provides insight into the economic health of Connecticut's urban areas, which can inform policy decisions and business strategies.
Key Facts
- Connecticut's metropolitan areas account for over 90% of the state's population.
- Real per capita personal income in Connecticut's metro areas has grown by 20% since 2010.
- The state's metropolitan portion of personal income is 15% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average real (inflation-adjusted) personal income per person for Connecticut residents living in metropolitan areas.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic well-being and purchasing power of Connecticut's urban population, which is crucial for assessing the state's overall economic conditions and informing 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 personal income and population statistics for Connecticut's metropolitan areas.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to analyze the economic health and living standards of Connecticut's urban residents, which can inform decisions related to taxation, public spending, and economic development programs.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with a lag of several months. The series may not capture all aspects of personal income, such as the distribution of income within metropolitan areas.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Metropolitan Portion for Connecticut (CTMPRPIPC), retrieved from FRED.