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WEDNESDAY June 12, 2013 BEA INTRODUCES NEW MEASURES OF THE REGIONAL ECONOMY Prototype Estimates of Real Personal Income for States and Metropolitan Areas, 2007-2011 Today, the U.S. Bureau of Economic Analysis released experimental real, or inflation-adjusted, estimates of personal income for states and metropolitan areas1. The inflation-adjustments are based in part on regional price parities (RPPs) which provide a measure of differences in price levels across each state and region relative to the national price level for each of the years, 2007-2011. When RPPs are applied in conjunction with BEA’s national Personal Consumption Expenditures (PCE) price index, which measures price changes over time, personal income comparisons can be made across regions and time periods. These prototype statistics are being released for evaluation and comment by data users. Growth in real metropolitan area personal income from 2010 to 2011 ranged from a decline of 0.7% in Rochester, MN to an increase of 11.9% in Odessa, TX. After Odessa, TX, the metropolitan areas with largest growth rates of real personal income were Midland, TX (10.7%), Hanford-Corcoran, CA (6.7%), San JoseSunnyvale-Santa Clara, CA (6.4%), and Madera-Chowchilla, CA (6.2%). In addition to Rochester, MN, four metropolitan areas had declining or flat growth rates. These are Ocean City, NJ (-0.3%), Anniston-Oxford, AL (-0.2%), Gadsden, AL (-0.2%), and Cape Girardeau-Jackson, MO-IL (0.0%). 1 Metropolitan areas consist of the 366 Metropolitan Statistical Areas defined by the U.S. Office of Management and Budget (OMB) as one or more counties with a high degree of social and economic integration, with a core urban population of 50,000 or more. Combining the metropolitan areas with the non-metropolitan portion of the United States provides complete coverage of all U.S. counties. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are 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 June 2014. Media Contact: Jeannine Aversa Technical Contact: Troy Martin (202) 606-2649 (202) 606-5620 Bureau of Economic Analysis, U.S. Department of Commerce