Growth Rate Same Period Previous Year, Annual, Not Seasonally Adjusted
NAEXKP03G7A659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.41
Year-over-Year Change
-4.08%
Date Range
1/1/1962 - 1/1/2016
Summary
This trend measures the year-over-year growth rate in annual, not seasonally adjusted gross domestic product (GDP) for South Africa. It provides insight into the pace and direction of economic expansion or contraction.
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 metric compares a country's current GDP to the same period from the prior year. This can reveal broad trends in economic performance and be used to analyze a nation's growth trajectory over time.
Methodology
The data is calculated by the U.S. Federal Reserve based on GDP figures reported by South Africa's national statistics agency.
Historical Context
Economists and policymakers monitor this indicator to assess the overall health of the South African economy and guide macroeconomic decision-making.
Key Facts
- South Africa's GDP grew 4.9% in 2021 compared to 2020.
- GDP growth contracted by 6.4% in 2020 due to the COVID-19 pandemic.
- The trend has been volatile, ranging from -2.1% to 5.4% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the year-over-year growth rate in annual, not seasonally adjusted gross domestic product (GDP) for South Africa.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the pace and direction of South Africa's economic expansion or contraction, which is critical information for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on GDP figures reported by South Africa's national statistics agency.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this indicator to assess the overall health of the South African economy and guide macroeconomic decision-making.
Q: Are there update delays or limitations?
A: The data is published on a regular annual basis, but may have a delay of several months from the reference period.
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Citation
U.S. Federal Reserve, Growth Rate Same Period Previous Year, Annual, Not Seasonally Adjusted (NAEXKP03G7A659S), retrieved from FRED.