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    The U.S. Bureau of Economic Analysis released new estimates of real, price-adjusted personal income for states and metropolitan areas from 2008 to 2012. The estimates use regional price parities and the national Personal Consumption Expenditure price index to allow for comparisons of purchasing power across regions over time. Growth in real personal income among states from 2011 to 2012 ranged from a 1.2% decline in South Dakota to a 15.1% increase in North Dakota. Several other states also had growth rates above 3%, while Maine, Alaska, and Alabama had among the lowest growth rates close to 1% or less.

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    The U.S. Bureau of Economic Analysis released new estimates of real, price-adjusted personal income for states and metropolitan areas from 2008 to 2012. The estimates use regional price parities and the national Personal Consumption Expenditure price index to allow for comparisons of purchasing power across regions over time. Growth in real personal income among states from 2011 to 2012 ranged from a 1.2% decline in South Dakota to a 15.1% increase in North Dakota. Several other states also had growth rates above 3%, while Maine, Alaska, and Alabama had among the lowest growth rates close to 1% or less.

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    6 views1 page

    Bea Introduces New Measures of The Regional Economy

    Uploaded by

    pathanfor786
    The U.S. Bureau of Economic Analysis released new estimates of real, price-adjusted personal income for states and metropolitan areas from 2008 to 2012. The estimates use regional price parities and the national Personal Consumption Expenditure price index to allow for comparisons of purchasing power across regions over time. Growth in real personal income among states from 2011 to 2012 ranged from a 1.2% decline in South Dakota to a 15.1% increase in North Dakota. Several other states also had growth rates above 3%, while Maine, Alaska, and Alabama had among the lowest growth rates close to 1% or less.

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    THURSDAY April 24, 2014

    BEA INTRODUCES NEW MEASURES OF THE REGIONAL ECONOMY


    Estimates of Real Personal Income for States and Metropolitan Areas, 2008-2012
    Today, the U.S. Bureau of Economic Analysis released real, price-adjusted estimates of personal income for states and metropolitan areas for 2008-2012. The price-adjustments are based on regional price parities (RPPs) and on BEAs national Personal Consumption Expenditure (PCE) price index. The RPPs measure geographic differences in the price levels of consumption goods and services relative to the national average, and the PCE price index measures national price changes over time. Using the RPPs in combination with the PCE price index allows for comparisons of the purchasing power of personal income across regions and over time. These estimates are being released for the first time as official statistics1.

    Growth in real state personal income from 2011 to 2012 ranged from a decline of 1.2% in South Dakota to an increase of 15.1% in North Dakota. These growth rates reflect the year-over-year change in the states nominal personal income, the change in the national PCE price index, and the change in the regional price parity for that state. After North Dakota, the states with the largest growth rates were Montana (3.7%), Indiana (3.7%), California (3.4%), and Mississippi (3.4%). South Dakota was the only state with a decline in real personal income. The states with the smallest growth rates were Maine (0.3%), Alaska (0.7%), and Alabama (0.8%). The District of Columbias growth rate was 0.4%. States with growth rates close to the national average were Delaware (2.4%), Georgia (2.2%), Illinois (2.4%), Minnesota (2.2%), and Oregon (2.4%).
    1

    Prototype statistics were released for evaluation and comment by users on June 12, 2013.

    BEA dataincluding GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industriesare available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: The next release of Real Personal Income for States and Metropolitan Areas will be in April 2015. Media Contact: Jeannine Aversa (202) 606-2649 Bureau of Economic Analysis, U.S. Department of Commerce Technical Contact: Eric Figueroa (202) 606-5620

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