Real Personal Income: Nonmetropolitan Portion for Arizona
AZNMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,155,464.00
Year-over-Year Change
44.72%
Date Range
1/1/2008 - 1/1/2023
Summary
The 'Real Personal Income: Nonmetropolitan Portion for Arizona' measures the purchasing power of personal income for non-urban residents in Arizona. This metric is important for economists and policymakers to understand regional economic trends and disparities.
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 (inflation-adjusted) personal income for the nonmetropolitan portion of the Arizona population. It allows for analysis of economic conditions and standards of living outside of major metropolitan areas within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income estimates and regional price parities.
Historical Context
This metric is used to inform policy decisions and track regional economic development in Arizona.
Key Facts
- Arizona's nonmetropolitan personal income accounts for 24% of total state personal income.
- Real personal income for nonmetropolitan Arizona has grown 17% over the past decade.
- The nonmetropolitan portion of Arizona has a 7% lower cost of living than metropolitan areas.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) personal income for the nonmetropolitan portion of the Arizona population.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for analysis of economic conditions and standards of living outside of major metropolitan areas within Arizona, which is useful for regional economic policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income estimates and regional price parities.
Q: How is this trend used in economic policy?
A: This metric is used to inform policy decisions and track regional economic development in Arizona.
Q: Are there update delays or limitations?
A: The data is published with a several month lag by the Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Real Personal Income: Nonmetropolitan Portion for Arizona (AZNMPRPI), retrieved from FRED.