Consumer Price Index: Total Food Excluding Restaurants for Canada
Growth Rate Same Period Previous Year, Annual
CPGDFD02CAA659N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.01
Year-over-Year Change
-144.09%
Date Range
1/1/1962 - 1/1/2017
Summary
This economic trend measures the annual growth rate of gross domestic product (GDP) compared to the same period in the previous year. It provides important insights into the overall health and trajectory of the U.S. 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
The Growth Rate Same Period Previous Year, Annual indicator tracks the year-over-year change in real GDP, offering a valuable perspective on the economy's performance over time. Economists and policymakers closely monitor this metric to assess macroeconomic conditions and guide economic policy decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using national accounts data.
Historical Context
This trend is widely referenced by analysts, investors, and government agencies to inform economic forecasting and policy responses.
Key Facts
- The U.S. GDP growth rate in 2021 was 5.7%.
- Positive growth rates indicate economic expansion, while negative rates signal a recession.
- GDP growth is a key indicator of a country's overall economic performance and living standards.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual growth rate of real gross domestic product (GDP) compared to the same period in the previous year, providing insights into the overall health and trajectory of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate is a crucial indicator for economists, policymakers, and market participants, as it helps assess macroeconomic conditions, guide policy decisions, and inform economic forecasting and investment strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers, such as the Federal Reserve, closely monitor the GDP growth rate to inform monetary and fiscal policy decisions, which can impact interest rates, government spending, and other economic levers.
Q: Are there update delays or limitations?
A: The GDP growth rate data is released quarterly by the Bureau of Economic Analysis, with a typical delay of several weeks after the end of the reporting period. The data may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Growth Rate Same Period Previous Year, Annual (CPGDFD02CAA659N), retrieved from FRED.