Consumer Price Index: Total Food Excluding Restaurants for Norway
Growth Rate Same Period Previous Year, Monthly
CPGDFD02NOM659N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.07
Year-over-Year Change
56.07%
Date Range
1/1/1979 - 5/1/2018
Summary
The Growth Rate Same Period Previous Year, Monthly measures the year-over-year change in real gross domestic product (GDP). This metric is a key indicator of economic growth and performance used by policymakers and analysts.
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 series tracks the annual growth rate of real GDP in the United States, providing insight into the pace of overall economic expansion or contraction. The metric is seasonally adjusted and reported on a monthly basis, allowing for timely analysis of economic trends.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using established national accounts methodologies.
Historical Context
The GDP growth rate is closely monitored by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- GDP growth rate averaged 2.3% annually from 2010-2019.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- GDP rebounded by 5.7% in 2021 as the economy recovered.
FAQs
Q: What does this economic trend measure?
A: The Growth Rate Same Period Previous Year, Monthly measures the year-over-year change in real gross domestic product (GDP), a key indicator of overall economic growth and performance.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate is a critical metric used by policymakers, economists, and market analysts to assess the health and trajectory of the U.S. economy, informing decisions on monetary policy, fiscal policy, 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 established national accounts methodologies.
Q: How is this trend used in economic policy?
A: The GDP growth rate is closely monitored by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions aimed at promoting stable and sustainable economic expansion.
Q: Are there update delays or limitations?
A: The GDP growth rate data is reported on a monthly basis with a short lag, allowing for timely analysis of economic trends, though the initial estimates may be subject to revisions as more complete information becomes available.
Related Trends
National Accounts: GDP by Expenditure: Current Prices: Gross Fixed Capital Formation for Norway
NORGFCFQDSMEI
Balance of Payments: Other Investment: Net (Assets Minus Liabilities) for Norway
NORB6FAOI01NCCUQ
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Clothing and Footwear for Norway
NORCP030000GYQ
Stock Market Capitalization to GDP for Norway
DDDM01NOA156NWDB
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Maintenance and Repair of the Dwelling for Norway
NORCPHP0403GYM
Harmonized Index of Consumer Prices: Combined Passenger Transport for Norway
CP0735NOM086NEST
Citation
U.S. Federal Reserve, Growth Rate Same Period Previous Year, Monthly (CPGDFD02NOM659N), retrieved from FRED.