Millions of Chained 1996 Dollars, Quarterly
This dataset tracks millions of chained 1996 dollars, quarterly over time.
Latest Value
740067.00
Year-over-Year Change
14.95%
Date Range
1/1/1967 - 10/1/1996
Summary
The 'Millions of Chained 1996 Dollars, Quarterly' series measures the real gross domestic product (GDP) of the United States on a quarterly basis, adjusted for inflation using chained 1996 dollars. This metric is a key indicator of the overall health and growth 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
This series represents the total value of all final goods and services produced in the U.S. economy, adjusted for changes in price levels to provide a more accurate picture of real economic activity. Chained-dollar measures, like this one, are widely used by economists and policymakers to analyze economic trends and inform decision-making.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive national income and product accounts.
Historical Context
Quarterly GDP data is closely monitored by the Federal Reserve, Congress, and private sector analysts to assess the strength of the U.S. economy and guide economic policy.
Key Facts
- GDP reached a record high of $23.92 trillion in Q4 2021.
- Real GDP grew by 6.9% in Q4 2021 compared to the previous quarter.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This series measures the real, inflation-adjusted gross domestic product (GDP) of the United States on a quarterly basis, providing a comprehensive view of the overall size and growth of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: Quarterly real GDP data is a critical indicator used by economists, policymakers, and market analysts to assess the health and trajectory of the U.S. economy, informing decisions on fiscal and monetary policy, investment strategies, and economic forecasting.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) as part of their comprehensive national income and product accounts.
Q: How is this trend used in economic policy?
A: Quarterly GDP data is closely monitored by the Federal Reserve, Congress, and private sector analysts to assess the strength of the U.S. economy and guide economic policy decisions, such as interest rate adjustments and fiscal stimulus measures.
Q: Are there update delays or limitations?
A: The GDP data is released on a quarterly basis, with an initial estimate followed by two subsequent revisions as more complete information becomes available. There is typically a 1-2 month delay between the end of a quarter and the release of the initial GDP estimate.
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Citation
U.S. Federal Reserve, Millions of Chained 1996 Dollars, Quarterly (HQRMT), retrieved from FRED.