Real Personal Income for Massachusetts
MARPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
486,679.80
Year-over-Year Change
30.12%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Personal Income for Massachusetts measures the total inflation-adjusted personal income earned by residents of the state. It's a key indicator of economic well-being and consumer spending power.
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
Real Personal Income for Massachusetts tracks the purchasing power of personal income in the state, adjusting for inflation. It's used by economists and policymakers to assess the strength of the Massachusetts economy and consumer demand.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income statistics and the regional price parities index.
Historical Context
Trends in real personal income are closely watched for insights into the health of local consumer markets and the broader state economy.
Key Facts
- Massachusetts ranks 3rd among U.S. states for real personal income per capita.
- Real personal income in Massachusetts grew 3.2% in 2021 compared to the prior year.
- Services and professional sectors account for the largest shares of personal income in Massachusetts.
FAQs
Q: What does this economic trend measure?
A: Real Personal Income for Massachusetts measures the total inflation-adjusted personal income earned by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: Trends in real personal income provide insights into the strength of consumer demand and the overall health of the Massachusetts economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income statistics and regional price parities.
Q: How is this trend used in economic policy?
A: Real personal income is closely watched by economists and policymakers for its implications on consumer spending, employment, and broader economic conditions in Massachusetts.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Real Personal Income for Massachusetts (MARPI), retrieved from FRED.