National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Russia
Growth rate same period previous year, Annual
NAEXKP03RUA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.00
Year-over-Year Change
18.97%
Date Range
1/1/2004 - 1/1/2020
Summary
This economic indicator tracks the year-over-year growth rate of gross domestic product (GDP) on an annual basis. It provides insights into the overall pace 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 annual growth rate of GDP measures the percentage change in the total value of goods and services produced within a country compared to the same period a year earlier. This metric is widely used by economists and policymakers to assess the health and trajectory of the national economy.
Methodology
The U.S. Bureau of Economic Analysis calculates this statistic based on official GDP data.
Historical Context
Policymakers monitor GDP growth trends to inform monetary and fiscal policies.
Key Facts
- GDP growth rate averaged 2.3% annually from 2010-2019.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- Positive GDP growth is generally associated with increased employment and consumer spending.
FAQs
Q: What does this economic trend measure?
A: This indicator tracks the year-over-year percent change in the total value of goods and services produced in the United States on an annual basis.
Q: Why is this trend relevant for users or analysts?
A: The annual GDP growth rate is a key barometer of the overall health and trajectory of the national economy, making it highly relevant for policymakers, investors, and other economic stakeholders.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this statistic based on official GDP data.
Q: How is this trend used in economic policy?
A: Policymakers at the Federal Reserve and other institutions closely monitor GDP growth trends to inform monetary and fiscal policies aimed at promoting economic stability and prosperity.
Q: Are there update delays or limitations?
A: The annual GDP growth rate is typically published with a delay of several months, as the underlying GDP data requires extensive data collection and analysis.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual (NAEXKP03RUA659S), retrieved from FRED.