Real Per Capita Personal Income: Metropolitan Portion for Tennessee
TNMPRPIPC • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,623.00
Year-over-Year Change
28.72%
Date Range
1/1/2008 - 1/1/2023
Summary
The Real Per Capita Personal Income: Metropolitan Portion for Tennessee measures the average inflation-adjusted personal income of residents in metropolitan areas of Tennessee. This metric provides insight into the economic well-being and purchasing power of Tennesseans living in urban regions.
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 data series tracks the real (inflation-adjusted) per capita personal income specifically for the metropolitan portions of Tennessee. It offers a more localized perspective on economic trends compared to statewide personal income statistics, helping analysts and policymakers understand regional variations within the state.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using personal income and population estimates for Tennessee's metropolitan statistical areas.
Historical Context
This metric is useful for assessing the economic conditions and consumer demand in Tennessee's urban centers, which can inform business strategies and policy decisions.
Key Facts
- Tennessee's metropolitan areas account for over 60% of the state's total personal income.
- Real per capita personal income in Tennessee's metro areas has grown by over 15% in the past decade.
- The Nashville metropolitan area has the highest real per capita personal income among Tennessee's major urban centers.
FAQs
Q: What does this economic trend measure?
A: This data series tracks the real (inflation-adjusted) per capita personal income specifically for the metropolitan portions of Tennessee, providing a localized view of economic conditions in the state's urban areas.
Q: Why is this trend relevant for users or analysts?
A: This metric offers insights into the economic well-being and purchasing power of Tennesseans living in urban regions, which can inform business strategies, policy decisions, and a broader understanding of regional economic trends within the state.
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 Tennessee's metropolitan statistical areas.
Q: How is this trend used in economic policy?
A: This metric is useful for assessing the economic conditions and consumer demand in Tennessee's urban centers, which can inform business strategies and policy decisions at the state and local levels.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a typical lag of 3 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Real Per Capita Personal Income: Metropolitan Portion for Tennessee (TNMPRPIPC), retrieved from FRED.