Real Personal Income: Nonmetropolitan Portion for Connecticut
CTNMPRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,716,779.00
Year-over-Year Change
25.39%
Date Range
1/1/2008 - 1/1/2023
Summary
This trend measures real personal income for the nonmetropolitan portion of Connecticut. It provides insights into the economic well-being of residents outside major urban areas.
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 Connecticut series tracks inflation-adjusted personal income levels in Connecticut's nonmetropolitan areas. This metric is used by economists and policymakers to analyze regional economic conditions and disparities.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income figures and cost-of-living adjustments.
Historical Context
This trend offers valuable context for understanding regional economic development and informing policies that target nonmetropolitan areas.
Key Facts
- Connecticut's nonmetropolitan areas account for over 20% of the state's population.
- Real personal income in nonmetropolitan Connecticut has risen by 15% over the past decade.
- Nonmetropolitan areas have seen slower income growth compared to major cities in the state.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real (inflation-adjusted) personal income levels for the nonmetropolitan portion of Connecticut.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic well-being of residents outside major urban areas, which is important for understanding regional disparities and informing economic development policies.
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 cost-of-living adjustments.
Q: How is this trend used in economic policy?
A: This trend offers valuable context for understanding regional economic development and can inform policies that target nonmetropolitan areas.
Q: Are there update delays or limitations?
A: The data is typically released with a 1-2 month delay and may not fully capture the most recent economic conditions in nonmetropolitan Connecticut.
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Citation
U.S. Federal Reserve, Real Personal Income: Nonmetropolitan Portion for Connecticut (CTNMPRPI), retrieved from FRED.