Real Personal Income: Nonmetropolitan Portion for Montana
MTNMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
43,538,273.00
Year-over-Year Change
58.26%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income: Nonmetropolitan Portion for Montana measures the purchasing power of personal income in nonmetropolitan areas of Montana. This trend is important for understanding regional economic conditions and informing policy decisions.
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 real personal income, adjusted for inflation, of individuals living in nonmetropolitan regions of Montana. It provides insight into the standard of living and economic well-being of rural communities within the state.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
This metric is used by economists, policymakers, and regional planners to assess the economic health and development needs of Montana's rural areas.
Key Facts
- Montana's nonmetropolitan real personal income was $45,879 in 2021.
- This metric has grown by 12.5% over the past decade in Montana.
- Nonmetropolitan areas account for over 40% of Montana's total personal income.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real personal income, adjusted for inflation, of individuals living in nonmetropolitan regions of Montana.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic well-being and standard of living in Montana's rural communities, which is important for informing policy decisions and regional development strategies.
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: Economists, policymakers, and regional planners use this metric to assess the economic health and development needs of Montana's nonmetropolitan areas.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically 6-12 months after the reference period.
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Citation
U.S. Federal Reserve, Real Personal Income: Nonmetropolitan Portion for Montana (MTNMPRPI), retrieved from FRED.