Real Per Capita Personal Income: Metropolitan Portion for Hawaii
HIMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52,172.00
Year-over-Year Change
20.27%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Metropolitan Portion for Hawaii measures the purchasing power of personal income in Hawaii's metropolitan areas, adjusting for inflation. This key economic indicator is closely watched by policymakers and analysts to assess consumer spending and living standards.
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 for the metropolitan portion of the state of Hawaii. It provides insight into the economic well-being and purchasing power of Hawaii's urban residents over time, which is crucial for understanding consumer demand and the cost of living.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates.
Historical Context
Policymakers and economists use this metric to evaluate economic growth, consumer spending patterns, and the efficacy of economic policies in Hawaii.
Key Facts
- Hawaii's metropolitan real per capita personal income was $58,700 in 2021.
- This metric has grown by 18% over the past decade, indicating rising living standards.
- Hawaii's metropolitan real per capita income is 21% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real (inflation-adjusted) per capita personal income for the metropolitan areas of Hawaii. It provides insight into the purchasing power and living standards of Hawaii's urban residents.
Q: Why is this trend relevant for users or analysts?
A: This trend is closely watched by policymakers, economists, and market analysts to assess consumer spending, cost of living, and the overall economic well-being of Hawaii's metropolitan population.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates for Hawaii's metropolitan areas.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate economic growth, consumer spending patterns, and the efficacy of economic policies in Hawaii's urban centers.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Metropolitan Portion for Hawaii (HIMPRPIPC), retrieved from FRED.