Average Household Spending
Hello,
I'm using IMPLAN data to get a measure of average household spending for each of the income levels (LT15k, 15-30K, etc.). I just want to make sure I have a few things straight first.
Are these levels of income before or after taxes for the households?
The model overview shows the total household final demand which equals the total household commodity demand in Study Area Data. The difference between that Household Commodity Demand and the totals found in the Social Accounts=> Household Local Commodity Demand and in the Industry Accounts=> Household Industry Demand (they are both equal) are just what is imported that households buy?
So I'm taking total household commodity demand and dividing it by the number of households from Area Demographics for each household category to get average spending for each level. But when I do this I'm getting that average spending for each group is higher than the top income level of each group (for example, the average spending for households 50-70K is about $90,000), except 150-200K. I would expect this at lower income levels but not necessarily every one.
If that's what the data and model says, that's fine. I just want to make sure I'm doing it correctly or if there's more I have to take into account.
Thanks for any help you can give me. It's greatly appreciated.
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Hello Rob, The Household Income Categories are based on Census categories and represent money income. The income values within the columns are personal income values (BEA definition and source), which may fall outside the money income range. The article below discusses this in more detail. Http://support.implan.com/index.php?option=com_content&view=article&id=383 The difference between the Household Commodity Demand (Study Area Data) and the Household Local Commodity Demand (Social Accounts or Industry Accounts) is household purchases of imported commodities. Regards, IMPLAN Staff
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