Real Per Capita Personal Income: Metropolitan Portion for Maryland
MDMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60,176.00
Year-over-Year Change
17.66%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Metropolitan Portion for Maryland measure tracks the inflation-adjusted average personal income per person in the metropolitan regions of Maryland. This data is important for economists and policymakers to understand regional economic trends and standards of living.
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 average personal income per person in the metropolitan parts of Maryland, adjusted for inflation. It provides insights into the economic well-being and purchasing power of Maryland residents living in urban areas.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates.
Historical Context
This metric is used to analyze regional economic performance and inform policy decisions around economic development, taxation, and public spending.
Key Facts
- Maryland's metro per capita personal income was $63,852 in 2021.
- This metric has grown by 17.2% over the past decade.
- Maryland's metro income is 12% higher than the national average.
FAQs
Q: What does this economic trend measure?
A: This metric tracks the average personal income per person in the metropolitan regions of Maryland, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This data provides insights into the economic well-being and purchasing power of Maryland residents living in urban areas, which is important for understanding regional economic performance.
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.
Q: How is this trend used in economic policy?
A: This metric is used to analyze regional economic performance and inform policy decisions around economic development, taxation, and public spending.
Q: Are there update delays or limitations?
A: The data is updated annually, with a lag of several months from the end of the reference year.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Metropolitan Portion for Maryland (MDMPRPIPC), retrieved from FRED.