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Growth rate same period previous year, Annual, Seasonally Adjusted
ODCNPI03CAA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.89
Year-over-Year Change
11.92%
Date Range
1/1/1949 - 1/1/2024
Summary
This annual, seasonally adjusted metric measures the growth rate of output per capita in the United States compared to the same period in the previous year. It provides insight into the pace of economic expansion and productivity.
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 Growth Rate Same Period Previous Year metric tracks the year-over-year change in real output per capita, which is a key indicator of a country's economic growth and productivity. Economists and policymakers use this data to assess the health and trajectory of the U.S. economy.
Methodology
This data is calculated by the U.S. Bureau of Economic Analysis using national accounts and population statistics.
Historical Context
Growth in output per capita is a crucial driver of rising living standards and is closely monitored by the Federal Reserve and other economic institutions.
Key Facts
- Output per capita has grown by an average of 2.1% annually over the past 20 years.
- The highest annual growth rate in this metric was 5.7% in 1984.
- Sustained growth in output per capita is vital for improving living standards.
FAQs
Q: What does this economic trend measure?
A: This metric measures the year-over-year percentage change in real output per capita in the United States, providing insight into the pace of economic expansion and productivity growth.
Q: Why is this trend relevant for users or analysts?
A: Growth in output per capita is a crucial driver of rising living standards, so this metric is closely monitored by economists, policymakers, and market 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 and population statistics.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other economic institutions closely track this metric to inform monetary and fiscal policy decisions aimed at promoting sustainable economic growth and improved living standards.
Q: Are there update delays or limitations?
A: This annual, seasonally adjusted data is published with a lag of several months, so it may not reflect the most recent economic conditions.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual, Seasonally Adjusted (ODCNPI03CAA659S), retrieved from FRED.