Gross Domestic Product by Expenditure in Constant Prices: Exports of Goods and Services for the European Union
Growth Rate Same Period Previous Year, Annual, Not Seasonally Adjusted
NAEXKP06EUA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.77
Year-over-Year Change
-53.76%
Date Range
1/1/1996 - 1/1/2019
Summary
This economic trend measures the year-over-year growth rate of GDP, adjusting for inflation. 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 GDP growth rate year-over-year is a key metric used by economists and policymakers to assess the health and trajectory of the broader economy. It enables analysis of economic performance compared to the prior year.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on changes in real gross domestic product.
Historical Context
Policymakers at the Federal Reserve and other institutions monitor this indicator to inform monetary and fiscal decisions.
Key Facts
- The U.S. GDP growth rate averaged 2.3% annually from 2010-2019.
- GDP growth turned negative in 2020 due to the COVID-19 pandemic.
- Rapid GDP growth is generally associated with a healthy, expanding economy.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the year-over-year growth rate of real gross domestic product (GDP), which reflects the overall pace of economic expansion or contraction.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate is a crucial metric used by economists, policymakers, and market analysts to assess the health and trajectory of the broader economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on changes in real gross domestic product.
Q: How is this trend used in economic policy?
A: Policymakers at the Federal Reserve and other institutions monitor this indicator to inform monetary and fiscal decisions that can impact economic growth.
Q: Are there update delays or limitations?
A: The GDP growth rate data is released on a quarterly basis with a lag, so there may be a delay in accessing the most recent figures.
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Citation
U.S. Federal Reserve, Growth Rate Same Period Previous Year, Annual, Not Seasonally Adjusted (NAEXKP06EUA659S), retrieved from FRED.