Mean Adjusted Gross Income for Montana
This dataset tracks mean adjusted gross income for montana over time.
Latest Value
87000.00
Year-over-Year Change
79.36%
Date Range
1/1/1989 - 1/1/2022
Summary
The Mean Adjusted Gross Income for Montana (MEANAGIMT30A052NCEN) measures the average total income reported on tax returns filed by Montana residents. This key economic indicator provides insights into the overall financial well-being and purchasing power of the state's population.
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 Mean Adjusted Gross Income for Montana represents the average amount of income declared by taxpayers in the state on their federal tax returns. This statistic is widely used by economists, policymakers, and market analysts to gauge the economic health and spending capacity of Montana's households.
Methodology
The data is collected and calculated annually by the U.S. Census Bureau based on individual tax return filings.
Historical Context
This economic trend is closely monitored for its implications on consumer spending, tax revenue, and the broader economic conditions in Montana.
Key Facts
- The mean adjusted gross income for Montana was $59,301 in 2020.
- Montana's mean AGI has increased by 18% over the past decade.
- The state's mean AGI is approximately 7% below the national average.
FAQs
Q: What does this economic trend measure?
A: The Mean Adjusted Gross Income for Montana (MEANAGIMT30A052NCEN) measures the average total income reported on tax returns filed by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This statistic provides insight into the overall financial well-being and purchasing power of Montana's population, which is crucial for understanding consumer spending patterns, tax revenue, and broader economic conditions in the state.
Q: How is this data collected or calculated?
A: The data is collected and calculated annually by the U.S. Census Bureau based on individual tax return filings.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and market analysts closely monitor the Mean Adjusted Gross Income for Montana to assess the state's economic health and make informed decisions regarding fiscal policy, economic development, and consumer-focused initiatives.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, typically several months after the end of the tax year. There may also be revisions to historical data as the Census Bureau receives updated information.
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Citation
U.S. Federal Reserve, Mean Adjusted Gross Income for Montana (MEANAGIMT30A052NCEN), retrieved from FRED.