National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Luxembourg
Growth rate same period previous year, Annual
NAEXKP03LUA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.94
Year-over-Year Change
28.65%
Date Range
1/1/1996 - 1/1/2024
Summary
This economic trend measures the annual growth rate of real GDP compared to the same period in the previous year. It 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
The Growth Rate Same Period Previous Year, Annual trend provides a year-over-year comparison of real GDP, adjusting for inflation. It is a widely used metric to assess the pace of economic expansion or contraction over time.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on official GDP figures.
Historical Context
This trend is closely monitored by policymakers, analysts, and investors to gauge the health and trajectory of the U.S. economy.
Key Facts
- GDP growth peaked at 6.9% in 2021.
- Growth rate turned negative during the 2008-2009 recession.
- Long-term average annual GDP growth is around 2-3%.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual growth rate of real GDP compared to the same period in the previous year, providing a year-over-year comparison of economic performance.
Q: Why is this trend relevant for users or analysts?
A: The growth rate of real GDP is a critical indicator of the overall health and trajectory of the economy, making this trend highly relevant for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on official GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers, such as the Federal Reserve, closely monitor this trend to assess the need for adjustments to monetary or fiscal policies to support economic growth and stability.
Q: Are there update delays or limitations?
A: The data is released quarterly with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual (NAEXKP03LUA659S), retrieved from FRED.