National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Australia
Growth rate same period previous year, Annual
NAEXKP03AUA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.67
Year-over-Year Change
168.50%
Date Range
1/1/1961 - 1/1/2024
Summary
The 'Growth rate same period previous year, Annual' metric measures the year-over-year change in real GDP, providing insight into the overall health and trajectory of the U.S. economy.
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 statistic compares the current year's real GDP to the previous year's, offering a high-level perspective on economic expansion or contraction. Economists and policymakers closely monitor this indicator to assess macroeconomic performance and inform policy decisions.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using national accounts data.
Historical Context
This growth rate trend is a key input for analyzing business cycles, consumer confidence, and other policy considerations.
Key Facts
- The U.S. economy grew 5.7% in 2021 compared to 2020.
- GDP growth rates can fluctuate significantly year-over-year.
- Positive growth rates signal an expanding economy.
FAQs
Q: What does this economic trend measure?
A: This metric measures the year-over-year change in real gross domestic product (GDP), providing a high-level indicator of the U.S. economy's overall growth or contraction.
Q: Why is this trend relevant for users or analysts?
A: The annual GDP growth rate is a crucial barometer for assessing the health and trajectory of the national economy, informing business decisions, consumer confidence, and policy considerations.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor the GDP growth rate to gauge macroeconomic performance and inform decisions around monetary, fiscal, and other economic policies.
Q: Are there update delays or limitations?
A: The GDP growth rate data is published quarterly with a lag, so there may be a delay in reflecting the most recent economic conditions.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual (NAEXKP03AUA659S), retrieved from FRED.