Per Capita Personal Income in Montana
MTPCPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67,615.00
Year-over-Year Change
68.13%
Date Range
1/1/1929 - 1/1/2024
Summary
Per Capita Personal Income in Montana measures the average personal income per person in the state. It is a key economic indicator used to assess the overall prosperity and living standards of Montana residents.
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
Per Capita Personal Income in Montana represents the total personal income earned by individuals in the state divided by the total population. This measure provides insight into the economic well-being and purchasing power of Montana residents.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on tax records and survey data.
Historical Context
Policymakers and economists analyze this trend to understand the economic conditions and make informed decisions for Montana.
Key Facts
- Montana's per capita personal income was $54,953 in 2021.
- Per capita income in Montana has grown by 22% over the past decade.
- Montana ranks 25th among U.S. states in per capita personal income.
FAQs
Q: What does this economic trend measure?
A: Per Capita Personal Income in Montana measures the average personal income earned by individuals in the state, providing insight into the economic well-being and purchasing power of Montana residents.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of Montana's economic conditions and living standards, helping policymakers, economists, and the public understand the overall prosperity of the state's population.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on tax records and survey data.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to make informed decisions about economic policies, investments, and programs that impact the living standards and well-being of Montana residents.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year, so the most recent figures may not reflect the latest economic conditions in Montana.
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Citation
U.S. Bureau of Economic Analysis, Per Capita Personal Income in Montana (MTPCPI), retrieved from FRED.