Real Personal Income: Metropolitan Portion for Rhode Island
RIMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60,649,420.00
Year-over-Year Change
21.92%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income: Metropolitan Portion for Rhode Island measures the inflation-adjusted personal income for the metropolitan areas within Rhode Island. This metric provides insights into the economic well-being and purchasing power of Rhode Island residents.
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 economic indicator tracks the real personal income, which includes wages, salaries, and other sources of income, for the metropolitan portions of Rhode Island. It is a useful measure for understanding regional economic trends and can inform policy decisions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income statistics and regional price parities.
Historical Context
Policymakers and economists use this metric to assess the economic conditions and standard of living in Rhode Island.
Key Facts
- Rhode Island's metropolitan areas account for the majority of the state's population.
- Real personal income growth can indicate changes in consumer purchasing power.
- The metric is adjusted for inflation to provide a more accurate representation of economic conditions.
FAQs
Q: What does this economic trend measure?
A: The Real Personal Income: Metropolitan Portion for Rhode Island measures the inflation-adjusted personal income for the metropolitan areas within the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic well-being and purchasing power of Rhode Island residents, which is useful for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income statistics and regional price parities.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the economic conditions and standard of living in Rhode Island, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and potential revisions of the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Personal Income: Metropolitan Portion for Rhode Island (RIMPRPI), retrieved from FRED.