Consumer Price Index: Total Food Excluding Restaurants for Ireland
Growth Rate Same Period Previous Year, Monthly
CPGDFD02IEM659N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.30
Year-over-Year Change
6.85%
Date Range
11/1/1975 - 5/1/2018
Summary
The Growth Rate Same Period Previous Year, Monthly trend measures the year-over-year percent change in real gross domestic product (GDP). This economic indicator provides insights into the pace of economic growth over time.
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 series tracks the annual percent change in real GDP, which is a comprehensive measure of the overall output of the U.S. economy. Economists and policymakers closely monitor this trend to assess the broader health and trajectory of the national economy.
Methodology
The U.S. Bureau of Economic Analysis (BEA) calculates this measure based on its official GDP data.
Historical Context
The growth rate in real GDP is a key input for Federal Reserve monetary policy decisions and macroeconomic analysis.
Key Facts
- Real GDP grew 2.4% year-over-year in January 2023.
- The highest annual GDP growth rate in the last decade was 6.9% in Q4 2021.
- The COVID-19 pandemic caused a 3.4% contraction in real GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: The Growth Rate Same Period Previous Year, Monthly tracks the year-over-year percent change in real gross domestic product (GDP), which is the broadest measure of overall economic output in the United States.
Q: Why is this trend relevant for users or analysts?
A: This GDP growth rate metric is a crucial indicator of the health and direction of the U.S. economy, providing insights that inform monetary policy, investment decisions, and macroeconomic analysis.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis (BEA) calculates this monthly GDP growth rate based on its official GDP data.
Q: How is this trend used in economic policy?
A: The growth rate in real GDP is a key input for Federal Reserve monetary policy decisions and is closely monitored by economists, investors, and policymakers to assess the broader state of the U.S. economy.
Q: Are there update delays or limitations?
A: The Growth Rate Same Period Previous Year, Monthly data is published by the BEA with a typical lag of one to two months from the end of the reference period.
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Citation
U.S. Federal Reserve, Growth Rate Same Period Previous Year, Monthly (CPGDFD02IEM659N), retrieved from FRED.