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Growth rate previous period, Annual, Seasonally Adjusted
ODCNPI03LUA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-9.67
Year-over-Year Change
2101.72%
Date Range
1/1/1992 - 1/1/2024
Summary
This economic trend measures the annual growth rate of the Personal Income of Persons in the United States, adjusted for seasonal variations. It is a key indicator of consumer spending power and economic activity.
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 Personal Income Growth Rate is a widely-used measure of changes in personal income over time. It reflects the overall health of the economy and consumer confidence, and is closely monitored by policymakers and analysts.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income estimates and seasonal adjustment processes.
Historical Context
The Personal Income Growth Rate informs decisions around monetary and fiscal policy, as well as market analysis of consumer spending trends.
Key Facts
- Annual personal income growth averaged 5.0% from 2015-2019.
- The growth rate fell to -3.3% in 2020 due to the COVID-19 pandemic.
- Personal income is a key driver of consumer spending, which makes up over two-thirds of U.S. GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual percent change in personal income for individuals in the United States, adjusting for seasonal variations.
Q: Why is this trend relevant for users or analysts?
A: The personal income growth rate is a critical indicator of consumer spending power and overall economic health, making it closely watched by policymakers, economists, and market analysts.
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 estimates and seasonal adjustment processes.
Q: How is this trend used in economic policy?
A: The personal income growth rate informs decisions around monetary and fiscal policy, as well as market analysis of consumer spending trends.
Q: Are there update delays or limitations?
A: The personal income data is typically published on a monthly basis with a 1-2 month lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Growth rate previous period, Annual, Seasonally Adjusted (ODCNPI03LUA657S), retrieved from FRED.