National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for G7
Growth rate same period previous year
G7NAEXKP03GYSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.76
Year-over-Year Change
15.55%
Date Range
1/1/1963 - 1/1/2025
Summary
The 'Growth rate same period previous year' measures the year-over-year change in economic growth, providing insight into the pace and trajectory of the 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
This metric tracks the percent change in real gross domestic product (GDP) compared to the same quarter in the previous year. It is a key indicator used by economists and policymakers to assess the overall health and momentum of the U.S. economy.
Methodology
The data is calculated based on the U.S. Bureau of Economic Analysis' quarterly GDP reports.
Historical Context
Policymakers and market analysts closely monitor this trend to inform economic and monetary policy decisions.
Key Facts
- The U.S. economy grew 2.9% in 2022 compared to 2021.
- Growth rates can vary significantly by quarter and year.
- Positive growth rates signal economic expansion, while negative rates indicate a recession.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year' measures the year-over-year percent change in real gross domestic product (GDP), a key indicator of overall economic activity and growth.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the pace and trajectory of the U.S. economy, helping policymakers, businesses, and investors assess economic conditions and make informed decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on its quarterly GDP reports.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor this growth rate closely to inform monetary and fiscal policy decisions aimed at promoting stable, sustainable economic expansion.
Q: Are there update delays or limitations?
A: The data is released quarterly, with a slight delay as the GDP figures are compiled. There may be revisions to historical data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Growth rate same period previous year (G7NAEXKP03GYSAQ), retrieved from FRED.