Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Norway
Quarterly
NORCP010000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
128.90
Year-over-Year Change
18.44%
Date Range
1/1/1979 - 10/1/2023
Summary
The Quarterly Nonfarm Output Per Hour, Nonfarm Business Sector (NORCP010000IXNBQ) measures labor productivity in the U.S. nonfarm business sector on a quarterly basis. This metric is crucial for economists and policymakers to assess economic efficiency and growth.
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 Federal Reserve economic indicator tracks changes in output per hour worked in the nonfarm business sector. It is a key measure of labor productivity, showing how much economic output is generated per unit of labor input. Analysts use this data to gauge business efficiency and the potential for future economic expansion.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics based on measures of real output and hours worked.
Historical Context
Quarterly productivity data informs monetary and fiscal policy decisions by providing insights into inflationary pressures and the economy's growth potential.
Key Facts
- Productivity growth averages around 1.5% annually.
- Rising productivity is linked to higher wages and living standards.
- Productivity data helps the Federal Reserve set appropriate monetary policy.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Nonfarm Output Per Hour, Nonfarm Business Sector measures changes in labor productivity within the U.S. nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: This productivity metric is crucial for assessing economic efficiency and growth potential, informing policy decisions by the Federal Reserve and other institutions.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics based on measures of real output and hours worked.
Q: How is this trend used in economic policy?
A: Quarterly productivity data provides insights into inflationary pressures and the economy's growth potential, informing monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a quarterly basis with a lag of several weeks.
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Citation
U.S. Federal Reserve, Quarterly Nonfarm Output Per Hour, Nonfarm Business Sector (NORCP010000IXNBQ), retrieved from FRED.