Real Personal Income for North Carolina
NCRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
591,116.50
Year-over-Year Change
44.31%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Personal Income for North Carolina is a measure of the purchasing power of personal income, adjusted for inflation, in the state. It is a key indicator of economic well-being and consumer spending patterns.
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 represents the total personal income of North Carolina residents, including wages, salaries, interest, dividends, and government transfers, after accounting for inflation. It is used by economists and policymakers to assess the state's economic conditions and consumer demand.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on personal income and consumer price index information.
Historical Context
Real Personal Income is an important input for evaluating fiscal and monetary policies affecting North Carolina's economy.
Key Facts
- North Carolina's real personal income has grown by over 50% since 2000.
- Consumer spending accounts for over 60% of North Carolina's real personal income.
- Real personal income is a more accurate measure of economic well-being than nominal income.
FAQs
Q: What does this economic trend measure?
A: Real Personal Income for North Carolina measures the purchasing power of personal income in the state, accounting for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of North Carolina's economic well-being and consumer spending patterns, making it important for policymakers and analysts.
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 personal income and consumer price index information.
Q: How is this trend used in economic policy?
A: Real Personal Income is an important input for evaluating fiscal and monetary policies affecting North Carolina's economy.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a lag of several weeks.
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Citation
U.S. Federal Reserve, Real Personal Income for North Carolina (NCRPI), retrieved from FRED.