Total New Construction Expenditures, Including Oil and Gas Well Drilling for United States
Millions of Current Dollars, Annual, Not Seasonally Adjusted
A0260AUSA398NNBR • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,280.00
Year-over-Year Change
55.21%
Date Range
1/1/1939 - 1/1/1946
Summary
This annual data series measures the total output of goods and services in the U.S. economy in millions of current dollars. It is a widely-used indicator of overall economic activity and growth.
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 Current Dollars, Annual, Not Seasonally Adjusted' series represents the total nominal dollar value of the United States' gross domestic product (GDP). GDP is the broadest measure of economic output and a key statistic for policymakers and analysts to track the health and performance of the national economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources including business surveys and government records.
Historical Context
This GDP figure is closely monitored by the Federal Reserve and other agencies to inform economic and monetary policy decisions.
Key Facts
- GDP reached a record high of $23.9 trillion in 2021.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- GDP has grown at an average annual rate of 3.7% since 1970.
FAQs
Q: What does this economic trend measure?
A: This data series measures the total nominal dollar value of goods and services produced in the United States over the course of a year, which is the definition of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: GDP is a fundamental indicator of a nation's economic performance and health. It is closely watched by policymakers, businesses, and investors to gauge overall economic conditions and inform decision-making.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using a variety of sources including business surveys, government records, and other economic indicators.
Q: How is this trend used in economic policy?
A: GDP figures are a key input for the Federal Reserve and other agencies when setting monetary and fiscal policies aimed at promoting economic growth and stability.
Q: Are there update delays or limitations?
A: The GDP data is published on a quarterly and annual basis, with some delay. There may also be revisions to previous estimates as more complete information becomes available.
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Citation
U.S. Federal Reserve, Millions of Current Dollars, Annual, Not Seasonally Adjusted (A0260AUSA398NNBR), retrieved from FRED.