National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Australia
Growth rate previous period, Annual
NAEXKP01AUA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.07
Year-over-Year Change
-72.66%
Date Range
1/1/1961 - 1/1/2024
Summary
The 'Growth rate previous period, Annual' trend measures the year-over-year percent change in real gross domestic product (GDP) for the United States. This metric is a key indicator of overall economic performance and 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 annual growth rate captures the percentage change in real GDP compared to the previous year. It provides insight into the pace and trajectory of the U.S. economy, which is crucial information for economic policymakers, analysts, and decision-makers.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on national accounts statistics.
Historical Context
Policymakers and market participants closely monitor this growth rate to assess the health of the broader economy and inform their decisions.
Key Facts
- The U.S. GDP growth rate averaged 2.3% annually from 1948 to 2022.
- GDP growth rebounded to 5.9% in 2021 after a 3.4% decline in 2020 due to the COVID-19 pandemic.
- Rapid GDP growth is associated with increased employment, consumer spending, and investment.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate previous period, Annual' measures the year-over-year percent change in real gross domestic product (GDP) for the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insight into the pace and trajectory of the U.S. economy, which is vital information for economic policymakers, analysts, and decision-makers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and market participants closely monitor this growth rate to assess the health of the broader economy and inform their decisions.
Q: Are there update delays or limitations?
A: There may be delays in data reporting, and the metric may be subject to revisions as more information becomes available.
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Real Private Sector Final Consumption Expenditure for Australia
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Citation
U.S. Federal Reserve, Growth rate previous period, Annual (NAEXKP01AUA657S), retrieved from FRED.