Real Per Capita Personal Income: Nonmetropolitan Portion for Rhode Island
RINMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.00
Year-over-Year Change
N/A%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Nonmetropolitan Portion for Rhode Island measures the average real (inflation-adjusted) personal income per person in the non-metropolitan areas of Rhode Island. This metric provides insight into the economic well-being of residents outside the state's urban centers.
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 economic indicator tracks the purchasing power of personal income in Rhode Island's rural and small-town areas. It is used by policymakers and economists to understand regional economic disparities and target programs to support non-metropolitan development.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Historical Context
Trends in this metric are closely watched for their implications on regional economic policy and investment decisions.
Key Facts
- The series dates back to 1969.
- Rhode Island's non-metro per capita income is below the national average.
- The metric is adjusted for inflation using the national personal consumption expenditures price index.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average real (inflation-adjusted) personal income per person in the non-metropolitan areas of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the economic well-being of residents outside Rhode Island's urban centers, which is useful for policymakers and economists assessing regional economic disparities.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population statistics.
Q: How is this trend used in economic policy?
A: Trends in this metric are closely watched for their implications on regional economic policy and investment decisions.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Federal Reserve, with potential lags depending on the availability of underlying personal income and population statistics.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Nonmetropolitan Portion for Rhode Island (RINMPRPIPC), retrieved from FRED.