Leading Indicators OECD: Reference Series: Gross Domestic Product: Original Series for Ireland
Growth rate same period previous year
LORSGPORIEQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.58
Year-over-Year Change
71.73%
Date Range
1/1/1961 - 7/1/2022
Summary
The 'Growth rate same period previous year' measures the annual percent change in a specific economic indicator compared to the same period a year earlier. This trend is crucial for economists and policymakers to assess the momentum and direction of the economy over time.
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 economic indicator tracks the year-over-year percent change in a variable, providing insight into the pace of economic growth or decline relative to the prior year. Analysts use this metric to identify patterns, monitor business cycles, and evaluate the effectiveness of policy interventions.
Methodology
The data is calculated by the U.S. Federal Reserve based on underlying economic statistics.
Historical Context
Policymakers and market participants closely monitor this trend to inform decisions and forecasts.
Key Facts
- The growth rate can be positive, negative, or zero.
- This metric is widely used to assess the strength of economic recovery or recession.
- Year-over-year data can help smooth out seasonal fluctuations in the underlying indicator.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year' measures the annual percent change in a specific economic indicator compared to the same period a year earlier.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insight into the momentum and direction of the economy, helping analysts and policymakers assess business cycles and the effectiveness of economic interventions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on underlying economic statistics.
Q: How is this trend used in economic policy?
A: Policymakers and market participants closely monitor this trend to inform decisions and forecasts related to monetary policy, fiscal policy, and investment strategies.
Q: Are there update delays or limitations?
A: The data is published regularly by the Federal Reserve, though there may be occasional delays or limitations in the underlying source data.
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Citation
U.S. Federal Reserve, Growth rate same period previous year (LORSGPORIEQ659S), retrieved from FRED.