Real Personal Income for Colorado
CORPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
385,503.90
Year-over-Year Change
64.99%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Personal Income for Colorado measures the purchasing power of personal income in the state, adjusted for inflation. It is a key indicator of economic well-being and consumer demand.
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 metric tracks the total personal income of Colorado residents, excluding taxes and other deductions, and adjusts it to account for changes in the cost of living. It provides insights into the financial health and spending power of Colorado households.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income figures and the relevant price index.
Historical Context
Policymakers and businesses use this trend to understand consumer behavior and make informed decisions about economic policy and investment.
Key Facts
- Colorado's real personal income has grown by over 20% in the past decade.
- Personal income growth in Colorado has outpaced the national average in recent years.
- The COVID-19 pandemic caused a temporary dip in Colorado's real personal income.
FAQs
Q: What does this economic trend measure?
A: The Real Personal Income for Colorado measures the purchasing power of personal income in the state, adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the financial well-being and spending power of Colorado households, which is crucial for understanding consumer demand and economic conditions.
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 the relevant price index.
Q: How is this trend used in economic policy?
A: Policymakers and businesses use this trend to understand consumer behavior and make informed decisions about economic policy and investment.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent economic conditions in Colorado.
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Citation
U.S. Federal Reserve, Real Personal Income for Colorado (CORPI), retrieved from FRED.