Real Per Capita Personal Income for Montana
MTRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59,807.00
Year-over-Year Change
36.93%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income for Montana measures the average inflation-adjusted income of Montana residents. It is a key indicator of economic well-being and purchasing power for the state.
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 tracks the average real personal income per person in Montana, adjusting for inflation. It provides insights into the overall economic prosperity and standard of living in the state over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income figures and population estimates.
Historical Context
Real per capita personal income is closely monitored by policymakers and analysts to assess the financial health and growth of state economies.
Key Facts
- Montana's real per capita personal income was $55,597 in 2021.
- Real per capita personal income in Montana has grown by 23% over the past decade.
- Montana ranks 17th among U.S. states for real per capita personal income.
FAQs
Q: What does this economic trend measure?
A: The Real Per Capita Personal Income for Montana measures the average inflation-adjusted income of residents in the state.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the overall economic well-being and purchasing power of Montana's population, which is crucial for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income figures and population estimates for the state of Montana.
Q: How is this trend used in economic policy?
A: Real per capita personal income is closely monitored by policymakers and analysts to assess the financial health and growth of the Montana economy.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Montana (MTRPIPC), retrieved from FRED.