National Accounts: GDP by Expenditure: Constant Prices: Exports of Goods and Services for Canada
Growth rate previous period, Annual
NAEXKP06CAA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.56
Year-over-Year Change
-79.86%
Date Range
1/1/1962 - 1/1/2024
Summary
The 'Growth rate previous period, Annual' measures the year-over-year change in real GDP. This key economic indicator provides insights into the overall health and trajectory of the U.S. economy.
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 series tracks the percentage change in real gross domestic product (GDP) compared to the previous year's value. It offers a high-level perspective on the nation's economic performance and is widely used by policymakers, analysts, and economists to assess macroeconomic conditions.
Methodology
The data is calculated based on the real GDP figures published by the U.S. Bureau of Economic Analysis.
Historical Context
This growth rate is a critical input for monetary and fiscal policy decisions made by the Federal Reserve and government institutions.
Key Facts
- GDP grew by 5.7% in 2021, the fastest pace since 1984.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- GDP growth has averaged around 2.3% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate previous period, Annual' measures the year-over-year percent change in real gross domestic product (GDP), the broadest indicator of overall U.S. economic activity.
Q: Why is this trend relevant for users or analysts?
A: This GDP growth rate is a key macroeconomic indicator used by policymakers, businesses, and economists to assess the health and direction of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on real GDP figures.
Q: How is this trend used in economic policy?
A: The GDP growth rate is a critical input for monetary and fiscal policy decisions made by the Federal Reserve and government institutions.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis, with an approximately one-month delay after the end of each quarter.
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Citation
U.S. Federal Reserve, Growth rate previous period, Annual (NAEXKP06CAA657S), retrieved from FRED.