National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Ireland
Growth rate previous period, Annual
NAEXKP03IEA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.83
Year-over-Year Change
-304.04%
Date Range
1/1/1998 - 1/1/2024
Summary
The 'Growth rate previous period, Annual' measures the year-over-year change in gross domestic product for selected countries. This metric is a key indicator of 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 reflects the percentage change in GDP compared to the previous year. It is a widely used statistic for evaluating and comparing the economic health and expansion of different nations over time.
Methodology
The data is calculated based on GDP figures reported by national statistical agencies.
Historical Context
Policymakers and analysts monitor this trend to assess the strength of a country's economy and inform economic and fiscal policy decisions.
Key Facts
- GDP growth rates vary significantly across countries and over time.
- Positive growth rates indicate an expanding economy, while negative values signal contraction.
- High and sustained GDP growth is a key goal for policymakers to raise living standards.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate previous period, Annual' metric measures the year-over-year percent change in a country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This GDP growth rate is a crucial indicator of a country's economic performance and expansion, informing policymakers and analysts about the health and direction of the economy.
Q: How is this data collected or calculated?
A: The data is calculated based on GDP figures reported by national statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor GDP growth rates to assess the strength of a country's economy and inform fiscal, monetary, and other economic policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the release schedules and potential revisions by national statistical agencies, which can result in update delays or minor changes to historical values.
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Citation
U.S. Federal Reserve, Growth rate previous period, Annual (NAEXKP03IEA657S), retrieved from FRED.