Real Personal Income: Nonmetropolitan Portion for North Carolina
NCNMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94,320,629.00
Year-over-Year Change
24.02%
Date Range
1/1/2008 - 1/1/2023
Summary
This economic indicator measures the real personal income of the nonmetropolitan portion of North Carolina. It provides insights into the economic well-being and purchasing power of rural areas within 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
The Real Personal Income: Nonmetropolitan Portion for North Carolina series tracks the inflation-adjusted personal income levels of individuals living outside of metropolitan areas in the state. This metric is used by economists and policymakers to analyze regional economic disparities and inform targeted development initiatives.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey information and income tax records.
Historical Context
This trend is relevant for understanding the economic conditions and policy needs of North Carolina's rural communities.
Key Facts
- North Carolina's nonmetropolitan personal income was $44,798 in 2021.
- This metric has grown by 8.3% over the past 5 years.
- Rural areas account for 27% of North Carolina's total personal income.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real (inflation-adjusted) personal income levels of individuals living in the nonmetropolitan portions of North Carolina.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic well-being and purchasing power of North Carolina's rural communities, which is important for informing targeted development policies and initiatives.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey information and income tax records.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to analyze regional economic disparities within North Carolina and inform initiatives aimed at supporting the development of the state's rural areas.
Q: Are there update delays or limitations?
A: The data is typically published 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 Personal Income: Nonmetropolitan Portion for North Carolina (NCNMPRPI), retrieved from FRED.