National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Norway
Growth rate same period previous year, Annual
NAEXKP03NOA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.37
Year-over-Year Change
55.23%
Date Range
1/1/1979 - 1/1/2024
Summary
The 'Growth rate same period previous year, Annual' trend measures the year-over-year change in real gross domestic product (GDP) for the United States. This provides valuable insights into the pace and direction of the nation's economic 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 economic indicator tracks the percentage change in real GDP compared to the same period a year earlier. It offers a high-level perspective on the overall health and momentum of the U.S. economy, which is a key metric for policymakers, analysts, and investors.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on the comprehensive national accounts.
Historical Context
The growth rate trend is closely watched by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- GDP grew 2.1% year-over-year in 2022.
- The U.S. economy contracted 3.4% in 2020 due to the COVID-19 pandemic.
- The average annual GDP growth rate from 2010-2019 was 2.3%.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year, Annual' measures the year-over-year percent change in real gross domestic product (GDP) for the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides a high-level gauge of the overall health and momentum of the U.S. economy, which is a key metric 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 the comprehensive national accounts.
Q: How is this trend used in economic policy?
A: The GDP growth rate trend is closely watched by the Federal Reserve and other institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The annual GDP growth rate data is released with a lag of several months, but provides a comprehensive measure of economic performance.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual (NAEXKP03NOA659S), retrieved from FRED.