Real Personal Income for Maryland
MDRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
372,195.10
Year-over-Year Change
24.34%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Personal Income for Maryland measures the total personal income of Maryland residents, adjusted for inflation. It is a key indicator of the state's economic health 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 Maryland represents the total personal income of Maryland residents, adjusted for changes in consumer prices. It is a widely-used metric for analyzing the purchasing power and standard of living in the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Policymakers and analysts use this trend to gauge Maryland's economic performance and consumer demand.
Key Facts
- Maryland's real personal income was $358 billion in 2021.
- Real personal income in Maryland grew by 3.2% in 2021.
- Consumer spending accounts for over 60% of Maryland's real personal income.
FAQs
Q: What does this economic trend measure?
A: The Real Personal Income for Maryland metric measures the total personal income earned by Maryland residents, adjusted for inflation. It provides insight into the purchasing power and economic well-being of Maryland households.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of Maryland's economic health and consumer spending power. It helps policymakers, businesses, and analysts understand the state's economic performance and consumer demand.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis, a division of the Department of Commerce.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts use this trend to assess the economic conditions in Maryland, make informed decisions, and develop policies that support the state's economic growth and consumer spending.
Q: Are there update delays or limitations?
A: The Real Personal Income for Maryland data is typically published on a quarterly basis with a lag of several months. There may also be revisions to previously reported data as more complete information becomes available.
Related Trends
Gross Domestic Product: Administrative and Support Services (561) in Maryland
MDADMINSUPNGSP
All Employees: Government: Local Government Educational Services in Maryland
SMU24000009093161101SA
Employment Level for Maryland
EMPLOYMD
Chain-Type Quantity Index for Real GDP: Educational Services, Health Care, and Social Assistance (61, 62) in Maryland
MDEDHLTHSOCASSQGSP
Chain-Type Quantity Index for Real GDP: Publishing Industries (Except Internet) (511) in Maryland
MDPUBINDQGSP
People 25 Years and Over Who Have Completed a Graduate or Professional Degree for Maryland
GCT1503MD
Citation
U.S. Federal Reserve, Real Personal Income for Maryland (MDRPI), retrieved from FRED.