Real Personal Income: Nonmetropolitan Portion for Indiana
INNMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
74,500,037.00
Year-over-Year Change
22.07%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic indicator tracks the real personal income of Indiana's nonmetropolitan population. It provides insights into the economic well-being and purchasing power of residents outside of major urban areas.
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 Real Personal Income: Nonmetropolitan Portion for Indiana metric measures the inflation-adjusted personal income generated by individuals living in nonmetropolitan areas of the state. This data point is used by economists and policymakers to assess regional economic trends and disparities.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric offers crucial context for understanding the economic conditions and challenges faced by Indiana's rural communities.
Key Facts
- Indiana's nonmetropolitan personal income accounts for over 30% of the state's total.
- This metric has shown steady growth over the past decade.
- Rural communities often face unique economic headwinds compared to urban areas.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the real (inflation-adjusted) personal income generated by individuals living in nonmetropolitan areas of the state of Indiana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insights into the economic well-being and purchasing power of Indiana's rural populations, which is vital information for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: This metric offers important context for understanding regional economic disparities and developing policies to support the economic development of Indiana's nonmetropolitan communities.
Q: Are there update delays or limitations?
A: The data is published with a delay of several months and may not fully capture real-time economic conditions in Indiana's nonmetropolitan areas.
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Citation
U.S. Federal Reserve, Real Personal Income: Nonmetropolitan Portion for Indiana (INNMPRPI), retrieved from FRED.