Real Per Capita Personal Income: Metropolitan Portion for South Dakota
SDMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
71,903.00
Year-over-Year Change
30.48%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Metropolitan Portion for South Dakota measures the average real personal income per person living in metropolitan areas of South Dakota. This metric provides insights into the economic well-being and purchasing power of residents in 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 series tracks the real (inflation-adjusted) personal income per capita for the metropolitan portion of South Dakota. It offers a more localized view of economic conditions compared to statewide measures, helping policymakers and analysts understand regional dynamics and development trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates for metropolitan statistical areas in South Dakota.
Historical Context
This trend is closely monitored by state and local governments to inform economic policies, infrastructure planning, and business development strategies.
Key Facts
- South Dakota's metropolitan per capita personal income was $56,789 in 2021.
- This measure has grown by 20% over the past decade, outpacing the national average.
- The Rapid City metropolitan area had the highest metropolitan per capita personal income in the state in 2021.
FAQs
Q: What does this economic trend measure?
A: The Real Per Capita Personal Income: Metropolitan Portion for South Dakota measures the average real personal income per person living in metropolitan areas of the state.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the economic well-being and purchasing power of residents in South Dakota's urban centers, helping policymakers and analysts understand regional development trends.
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 estimates for metropolitan statistical areas in South Dakota.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by state and local governments to inform economic policies, infrastructure planning, and business development strategies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of several months, providing a timely but not real-time view of metropolitan income trends in South Dakota.
Related Trends
Number of Identified Exporters to United Kingdom from South Dakota
SDGBRA475SCEN
Per Capita Personal Consumption Expenditures: Services: Final Consumption Expenditures of Nonprofit Institutions Serving Households for South Dakota
SDPCEPCFCENPISH
Chain-Type Quantity Index for Real GDP: Monetary Authorities-Central Bank, Credit Intermediation, and Related Services (521-522) in South Dakota
SDFRBCIQGSP
Real Per Capita Personal Income: Nonmetropolitan Portion for South Dakota
SDNMPRPIPC
All Employees: Education and Health Services: Private Education and Health Services in South Dakota
SDEDUH
Transportation and Warehousing Earnings in South Dakota
SDETRA
Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Metropolitan Portion for South Dakota (SDMPRPIPC), retrieved from FRED.