Labor Compensation: Earnings: Manufacturing: Hourly for Portugal
Growth rate same period previous year, Annual
LCEAMN01PTA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.57
Year-over-Year Change
-1593.77%
Date Range
1/1/2001 - 1/1/2023
Summary
This economic trend measures the annual growth rate in consumer expenditures, comparing the current year to the same period in the previous year. It provides insights into consumer spending behavior and is a key indicator 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
The growth rate same period previous year, Annual trend tracks changes in total personal consumption expenditures over a 12-month period, adjusting for inflation. It is widely used by economists and policymakers to assess the strength of consumer demand and broader economic conditions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of household spending.
Historical Context
This metric informs decision-making around monetary and fiscal policies aimed at managing inflation and promoting sustainable economic growth.
Key Facts
- Consumer spending accounts for over two-thirds of U.S. economic activity.
- The average annual growth rate in consumer expenditures was 3.8% from 2010-2019.
- Consumer spending contracted by 3.9% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual percent change in total personal consumption expenditures, comparing the current year to the same period in the previous year.
Q: Why is this trend relevant for users or analysts?
A: Consumer spending is a critical driver of economic growth, so this metric provides important insights into the strength of domestic demand and the overall health of the economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis based on surveys of household spending.
Q: How is this trend used in economic policy?
A: Policymakers and central banks monitor this metric closely to inform decisions around monetary and fiscal policies aimed at managing inflation and promoting sustainable economic growth.
Q: Are there update delays or limitations?
A: This data is typically published on a monthly basis with a lag of 1-2 months from the end of the reference period.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual (LCEAMN01PTA659S), retrieved from FRED.