Ships and Boats Built for Domestic Use for United States
Millions of 1913 Dollars
A0235AUSA378NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
565.50
Year-over-Year Change
645.06%
Date Range
1/1/1889 - 1/1/1919
Summary
The 'Millions of 1913 Dollars' trend measures the purchasing power of the U.S. dollar over time, adjusting for historical inflation. This metric is crucial for economists and policymakers to analyze long-term economic growth and the real value of economic outputs.
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
The 'Millions of 1913 Dollars' series provides a way to express historical U.S. economic output, income, and spending in constant-dollar terms. By adjusting for changes in the general price level, this data allows for more accurate comparisons of economic activity across different time periods.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using the GDP deflator to convert current-dollar values to constant 1913 dollars.
Historical Context
Economists and analysts use this metric to assess the real purchasing power and standard of living changes over decades and centuries.
Key Facts
- The U.S. economy produced $36.4 trillion (in 1913 dollars) in 2021.
- Real GDP per capita has grown over 8-fold since 1929.
- The 1913 dollar had about 2.5% of its current purchasing power as of 2021.
FAQs
Q: What does this economic trend measure?
A: The 'Millions of 1913 Dollars' series measures the real purchasing power of the U.S. dollar over time, adjusting historical economic data for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for more accurate comparison of economic activity and living standards across different time periods by removing the distorting effects of inflation.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using the GDP deflator to convert current-dollar values to constant 1913 dollars.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess long-term economic growth, the real value of outputs, and changes in purchasing power and living standards.
Q: Are there update delays or limitations?
A: The data is updated quarterly by the Federal Reserve, with a typical release lag of 1-2 months.
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Citation
U.S. Federal Reserve, Millions of 1913 Dollars (A0235AUSA378NNBR), retrieved from FRED.