National Accounts: GDP by Expenditure: Constant Prices: Exports of Goods and Services for Norway
Growth rate previous period, Annual
NAEXKP06NOA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5.24
Year-over-Year Change
154.80%
Date Range
1/1/1979 - 1/1/2024
Summary
The 'Growth rate previous period, Annual' measures the year-over-year change in real gross domestic product (GDP) for the United States. This metric is a key indicator of economic growth and a focus for policymakers and analysts.
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 GDP compared to the previous year. It provides a high-level view of the overall trajectory of the U.S. economy and is closely monitored by economists, forecasters, and government agencies.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using national accounts information.
Historical Context
The GDP growth rate is a critical input for economic policy decisions and is widely followed by financial markets.
Key Facts
- Real GDP grew 5.7% in 2021 compared to 2020.
- 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 previous period, Annual' series 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: The annual GDP growth rate is a key indicator of overall economic performance and is closely watched by policymakers, investors, and analysts to assess the health and trajectory 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 using national accounts information and GDP statistics.
Q: How is this trend used in economic policy?
A: The GDP growth rate is a critical input for economic and monetary policy decisions made by the Federal Reserve, Congress, and other government agencies.
Q: Are there update delays or limitations?
A: The annual GDP growth rate data is published with a lag of several months, as the underlying GDP statistics require time to compile and validate.
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Citation
U.S. Federal Reserve, Growth rate previous period, Annual (NAEXKP06NOA657S), retrieved from FRED.