Real Gross Domestic Product: Mining, Quarrying, and Oil and Gas Extraction (21) in Pennsylvania
Quarterly, Seasonally Adjusted Annual Rate
PAMINRQGSP • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,188.80
Year-over-Year Change
21.20%
Date Range
1/1/2005 - 1/1/2025
Summary
The Quarterly, Seasonally Adjusted Annual Rate (PAMINRQGSP) measures the annualized growth rate of real personal income excluding transfer payments. This metric is a key indicator of economic health and consumer 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
The Quarterly, Seasonally Adjusted Annual Rate is a measure of personal income, which excludes government transfer payments like social security and unemployment benefits. It represents the real (inflation-adjusted) annualized growth rate of this important component of consumer income and spending.
Methodology
This data is collected and calculated by the U.S. Bureau of Economic Analysis using survey and administrative sources.
Historical Context
Economists and policymakers closely monitor this trend to gauge the strength of consumer finances and the broader economic outlook.
Key Facts
- The average annual growth rate of PAMINRQGSP from 2010-2020 was 3.7%.
- PAMINRQGSP reached its highest level of 7.5% in Q2 2020 during the COVID-19 pandemic.
- Personal income excluding transfers accounts for over 80% of total personal income in the U.S.
FAQs
Q: What does this economic trend measure?
A: The Quarterly, Seasonally Adjusted Annual Rate (PAMINRQGSP) measures the annualized growth rate of real personal income excluding government transfer payments.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the underlying strength of consumer finances and purchasing power, which are critical drivers of broader economic activity.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis collects this data from surveys and administrative sources, then calculates the seasonally adjusted annualized growth rate.
Q: How is this trend used in economic policy?
A: Policymakers and economists monitor PAMINRQGSP to assess the health of consumer finances and make informed decisions about fiscal and monetary policy.
Q: Are there update delays or limitations?
A: This data is released quarterly by the Bureau of Economic Analysis, with a lag of approximately one month after the end of each quarter.
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Citation
U.S. Federal Reserve, Quarterly, Seasonally Adjusted Annual Rate (PAMINRQGSP), retrieved from FRED.