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Growth rate same period previous year, Monthly
CCUSMA02NOM659N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.91
Year-over-Year Change
-31.42%
Date Range
1/1/1960 - 12/1/2023
Summary
The Growth rate same period previous year, Monthly measures the year-over-year change in consumer spending in the U.S. This metric is a key indicator of consumer demand and economic 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
This monthly index tracks the percent change in nominal consumer spending compared to the same month in the previous year. It provides insight into the strength and trajectory of consumer activity, a crucial driver of overall economic performance.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of consumer expenditures.
Historical Context
Policymakers and analysts monitor this indicator to assess the health of the consumer economy and make informed decisions.
Key Facts
- The series has been published monthly since 1959.
- Consumer spending accounts for over two-thirds of U.S. GDP.
- Growth in this metric typically precedes broader economic expansion.
FAQs
Q: What does this economic trend measure?
A: The Growth rate same period previous year, Monthly measures the year-over-year percent change in nominal consumer spending in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength and direction of consumer demand, a key driver of overall economic performance. It is closely monitored by policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of consumer expenditures.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess the health of the consumer economy and make informed decisions about monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published monthly with a lag of approximately one month.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Monthly (CCUSMA02NOM659N), retrieved from FRED.