Consumer Unit Characteristics: Income Before Taxes by Region: Residence in the Northeast Census Region
CXUINCBFTAXLB1102M • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
116,860.00
Year-over-Year Change
62.91%
Date Range
1/1/1984 - 1/1/2023
Summary
This economic trend measures the average income before taxes for consumer units residing in the Northeast census region of the United States. It provides valuable insights into the financial well-being and spending power of households in this geographic area.
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
The Consumer Unit Characteristics: Income Before Taxes by Region data series tracks the mean income before taxes for consumer units, which are defined as families, single persons living alone or sharing a household with others, and other multi-person households. This metric is important for analyzing regional economic disparities and consumer purchasing trends.
Methodology
The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to understand regional variations in household income and consumer behavior.
Key Facts
- The Northeast region includes Connecticut, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, and Vermont.
- In 2022, the average income before taxes for consumer units in the Northeast was $101,206.
- Household income is a key driver of consumer spending and regional economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the average income before taxes for consumer units, which are defined as families, single persons living alone or sharing a household with others, and other multi-person households, residing in the Northeast census region of the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into the financial well-being and spending power of households in the Northeast region, which is important for analyzing regional economic disparities and consumer purchasing trends.
Q: How is this data collected or calculated?
A: The data is collected through the U.S. Bureau of Labor Statistics' Consumer Expenditure Survey.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and market analysts to understand regional variations in household income and consumer behavior, which can inform economic policies and business strategies.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Bureau of Labor Statistics, but there may be a delay of several months between the reference period and the release of the data.
Related Trends
Producer Price Index by Industry: New Nonresidential Building Construction by Contractor Type/Region: General Contractors for Northeast Census Region
PCU23640023640011
Expenditures: Reading by Region: Residence in the Northeast Census Region
CXUREADINGLB1102M
New Privately-Owned Housing Units Completed: Total Units in the Northeast Census Region
COMPUNETSA
New Privately Owned Housing Completions by Design Type, Detached One-Family Units in the Northeast Census Region
COMPDTD1FNEQ
Expenditures: Fresh Vegetables by Region: Residence in the Northeast Census Region
CXUFRESHVEGLB1102M
Housing Inventory Estimate: Vacant Housing Units Held Off the Market and Usual Residence Elsewhere in the Northeast Census Region
EURENEQ176N
Citation
U.S. Federal Reserve, Consumer Unit Characteristics: Income Before Taxes by Region: Residence in the Northeast Census Region (CXUINCBFTAXLB1102M), retrieved from FRED.