Consumer Price Index: Transport (COICOP 07): Total for Ireland
Growth rate previous period, Quarterly
IRLCP070000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.75
Year-over-Year Change
-217.89%
Date Range
4/1/1983 - 7/1/2023
Summary
The growth rate previous period, quarterly trend measures the quarter-over-quarter change in economic output, providing insights into the pace of economic growth.
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 indicator tracks the quarterly percentage change in real GDP, a key metric used by economists and policymakers to assess the overall health and trajectory of the U.S. economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on their comprehensive GDP estimates.
Historical Context
Analysts and institutions closely monitor this trend to inform economic forecasting, policy decisions, and market expectations.
Key Facts
- The trend reached a low of -31.2% in Q2 2020 during the COVID-19 recession.
- It rebounded to 33.8% in Q3 2020 as the economy began recovering.
- Quarterly GDP growth is a leading indicator of overall economic performance.
FAQs
Q: What does this economic trend measure?
A: The growth rate previous period, quarterly trend measures the quarter-over-quarter percentage change in real gross domestic product (GDP), the broadest indicator of economic output in the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists, policymakers, and investors as it provides timely insights into the pace and direction of economic growth, which is crucial for informed decision-making.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on their comprehensive estimates of quarterly GDP.
Q: How is this trend used in economic policy?
A: Policymakers at the Federal Reserve and other institutions use this trend to monitor the overall state of the economy and inform monetary and fiscal policy decisions aimed at promoting stable and sustainable economic growth.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with a lag of approximately one month after the end of the reference quarter. As with any economic statistic, there may be revisions to the initial estimates as more complete data becomes available.
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Citation
U.S. Federal Reserve, Growth rate previous period, Quarterly (IRLCP070000GPQ), retrieved from FRED.