Ships and Boats Built for Domestic Use for United States
Millions of Current Dollars
A0234AUSA398NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
128.60
Year-over-Year Change
75.92%
Date Range
1/1/1919 - 1/1/1937
Summary
The 'Millions of Current Dollars' economic trend measures the total value of U.S. economic output in dollars at the time of production, without adjusting for inflation. This provides important insights into the overall size and growth of the American economy.
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 represents the total gross domestic product (GDP) of the United States, expressed in millions of dollars at the current market prices. GDP is the primary indicator of economic health and is widely used by policymakers, analysts, and investors to assess the performance of the U.S. economy.
Methodology
The U.S. Bureau of Economic Analysis (BEA) calculates GDP based on data collected from a variety of government and private sources.
Historical Context
Trends in GDP are closely monitored by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- The U.S. GDP was $23.9 trillion in 2021.
- GDP growth averaged 2.3% per year from 2010 to 2019.
- The COVID-19 pandemic caused a 3.4% decline in GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of Current Dollars' trend measures the total value of goods and services produced in the United States, expressed in millions of dollars at the current market prices.
Q: Why is this trend relevant for users or analysts?
A: GDP is the primary indicator of the overall size and health of the U.S. economy, making this trend essential for policymakers, economists, and investors to assess economic performance and make informed decisions.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis (BEA) calculates GDP based on data collected from government agencies and private sources.
Q: How is this trend used in economic policy?
A: Trends in GDP are closely monitored by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions, which can impact interest rates, government spending, and other economic factors.
Q: Are there update delays or limitations?
A: The GDP data is published quarterly by the BEA, with a delay of approximately one month after the end of each quarter.
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Citation
U.S. Federal Reserve, Millions of Current Dollars (A0234AUSA398NNBR), retrieved from FRED.