Real Per Capita Personal Income for Missouri
MORPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56,659.00
Year-over-Year Change
26.50%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income for Missouri measures the inflation-adjusted average income per person in the state. It is a key indicator of economic well-being and 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
This series represents the total personal income of Missouri residents divided by the state's population, with adjustments made to account for inflation. It is a widely-used metric for assessing the economic health and living standards of Missourians.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Historical Context
Policymakers and economists analyze this trend to understand Missouri's economic performance and make informed decisions.
Key Facts
- Missouri's real per capita personal income was $50,176 in 2021.
- The trend has grown by 18% over the past decade.
- Missouri's real per capita income is below the national average.
FAQs
Q: What does this economic trend measure?
A: The Real Per Capita Personal Income for Missouri measures the average inflation-adjusted income earned by residents of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Missouri's economic well-being and living standards, making it useful for policymakers, businesses, and consumers.
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 and population statistics for the state of Missouri.
Q: How is this trend used in economic policy?
A: Economists and policymakers analyze this trend to assess Missouri's economic performance and make informed decisions about fiscal, monetary, and social policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, so the most recent figures may not reflect the current economic conditions in Missouri.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income for Missouri (MORPIPC), retrieved from FRED.