National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for Australia
Growth rate previous period, Annual
NAEXKP02AUA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.64
Year-over-Year Change
-76.71%
Date Range
1/1/1961 - 1/1/2024
Summary
The 'Growth rate previous period, Annual' measure tracks the year-over-year change in real GDP for the United States. This metric is a key indicator of overall economic health and performance.
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 GDP growth rate compares the current year's real GDP to the previous year, providing insight into the economy's expansion or contraction. Economists and policymakers closely monitor this trend to assess the strength and trajectory of the national economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on their comprehensive GDP estimates.
Historical Context
The GDP growth rate is a crucial input for fiscal and monetary policy decisions made by the Federal Reserve and Congress.
Key Facts
- The U.S. GDP growth rate averaged 2.3% from 1948 to 2022.
- GDP growth exceeded 5% in 1950, 1984, and 1999.
- The largest GDP contraction was -2.8% in 2009 during the Great Recession.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate previous period, Annual' metric measures the year-over-year change in real GDP for the United States.
Q: Why is this trend relevant for users or analysts?
A: This GDP growth rate is a crucial indicator of overall economic health and performance, providing insight into the strength and trajectory of the national economy.
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 GDP estimates.
Q: How is this trend used in economic policy?
A: The GDP growth rate is a crucial input for fiscal and monetary policy decisions made by the Federal Reserve and Congress.
Q: Are there update delays or limitations?
A: The GDP growth rate data is published quarterly with a short delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Growth rate previous period, Annual (NAEXKP02AUA657S), retrieved from FRED.