Real Personal Income for Pennsylvania
PARPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
761,197.00
Year-over-Year Change
23.27%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Personal Income for Pennsylvania measures the total inflation-adjusted income of Pennsylvania residents. It is a key indicator of the state's economic health and consumer purchasing power.
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
Real Personal Income tracks the total personal income of Pennsylvania residents, adjusted for inflation. It provides insight into the underlying strength of the state's economy and consumer spending trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis.
Historical Context
Real Personal Income is used by policymakers, economists, and investors to assess Pennsylvania's economic performance and consumer demand.
Key Facts
- Pennsylvania's Real Personal Income reached a record high in 2021.
- Real Personal Income grew by 3.2% in Pennsylvania last year.
- Consumer spending accounts for over 60% of Pennsylvania's economic activity.
FAQs
Q: What does this economic trend measure?
A: Real Personal Income for Pennsylvania measures the total inflation-adjusted income of Pennsylvania residents, providing insight into the state's economic health and consumer purchasing power.
Q: Why is this trend relevant for users or analysts?
A: Real Personal Income is a key indicator of Pennsylvania's economic performance and consumer spending trends, which are important for policymakers, economists, and investors to monitor.
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: Real Personal Income for Pennsylvania is used by policymakers, economists, and investors to assess the state's economic conditions and consumer demand, which informs policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The Real Personal Income data for Pennsylvania is published on a monthly basis, with a typical 2-month delay in the most recent figures.
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Citation
U.S. Federal Reserve, Real Personal Income for Pennsylvania (PARPI), retrieved from FRED.