Real Personal Income for Ohio
OHRPI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
655,601.60
Year-over-Year Change
24.55%
Date Range
1/1/2008 - 1/1/2023
Summary
Real Personal Income for Ohio measures the total personal income of Ohio residents adjusted for inflation. It serves as an important indicator of the state's 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
Real Personal Income for Ohio represents the total income earned by individuals and households in the state, accounting for changes in the cost of living. It is a key metric used by economists and policymakers to assess Ohio's economic conditions and consumer spending trends.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using personal income and price index information.
Historical Context
This trend is widely tracked by analysts, investors, and state government officials to gauge Ohio's economic performance and guide policy decisions.
Key Facts
- Ohio's real personal income reached a record high in 2021.
- Real personal income growth in Ohio has outpaced the national average in recent years.
- Trends in Ohio's real personal income are closely watched for insights into the state's economic health.
FAQs
Q: What does this economic trend measure?
A: Real Personal Income for Ohio measures the total personal income of Ohio residents adjusted for inflation, providing insights into the state's economic well-being and purchasing power.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for understanding Ohio's economic conditions and consumer spending patterns, which are key factors considered by policymakers, businesses, and investors.
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 price index information.
Q: How is this trend used in economic policy?
A: Trends in Ohio's real personal income are closely tracked by state government officials and analysts to assess the state's economic performance and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a regular schedule by the U.S. Bureau of Economic Analysis, but may be subject to revisions and lags in availability.
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Citation
U.S. Federal Reserve, Real Personal Income for Ohio (OHRPI), retrieved from FRED.