Nominal General Government Final Consumption Expenditure, Collective for Russia
Annual
NCGGCXDCRUA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,605,981.80
Year-over-Year Change
121.52%
Date Range
1/1/2011 - 1/1/2021
Summary
The Annual trend measures the annual rate of change in gross domestic product (GDP) in the United States. It is a key indicator of economic growth and performance.
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 trend represents the year-over-year percent change in real GDP, which is the total value of all goods and services produced in the U.S. adjusted for inflation. It is closely watched by policymakers, analysts, and investors to gauge the overall health and trajectory of the American economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on comprehensive economic surveys and national accounts.
Historical Context
The Annual GDP growth rate is a crucial input for fiscal and monetary policy decisions.
Key Facts
- Real GDP grew by 2.3% in 2022.
- The fastest annual GDP growth rate in the last decade was 5.9% in 2021.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the year-over-year percent change in real gross domestic product (GDP) in the United States.
Q: Why is this trend relevant for users or analysts?
A: The Annual GDP growth rate is a key indicator of the overall health and performance of the U.S. economy, and is closely watched by 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 comprehensive economic surveys and national accounts.
Q: How is this trend used in economic policy?
A: The Annual GDP growth rate is a crucial input for fiscal and monetary policy decisions made by the Federal Reserve and other government institutions.
Q: Are there update delays or limitations?
A: The Annual GDP data is published on a quarterly basis with some lag, typically 1-2 months after the end of the reference period.
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Citation
U.S. Federal Reserve, Annual (NCGGCXDCRUA), retrieved from FRED.