Unit Labor Costs: Early Estimate of Quarterly Unit Labor Costs (ULC) Indicators: Labor Compensation per Unit of Labor Input: Total
Growth rate previous period
OECDULQECU01GPSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.37
Year-over-Year Change
97.54%
Date Range
4/1/1995 - 1/1/2023
Summary
The 'Growth rate previous period' measures the quarter-over-quarter change in real GDP for the United States. It is a key economic indicator used by policymakers and analysts to assess the pace of economic 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 metric represents the percentage change in real GDP from the previous quarter, providing insight into the trajectory of the U.S. economy. It is a widely tracked data point that informs assessments of economic performance and helps guide fiscal and monetary policy decisions.
Methodology
The data is calculated by the OECD using national accounts data from the U.S. Bureau of Economic Analysis.
Historical Context
The growth rate previous period is used by the Federal Reserve, Treasury Department, and private sector economists to evaluate the health of the U.S. economy and inform policy.
Key Facts
- The U.S. economy grew 2.9% in Q4 2022 compared to the previous quarter.
- Quarterly GDP growth averaged 2.3% over the past 5 years.
- Real GDP growth has exceeded 3% in 8 of the last 20 quarters.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate previous period' metric measures the quarter-over-quarter percent change in real GDP for the United States.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides important insight into the pace of economic growth, which is crucial for policymakers, investors, and analysts assessing the health of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using national accounts data from the U.S. Bureau of Economic Analysis.
Q: How is this trend used in economic policy?
A: The growth rate previous period is used by the Federal Reserve, Treasury Department, and private sector economists to evaluate economic performance and inform fiscal and monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately one month after the end of the reference period.
Related Trends
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Citation
U.S. Federal Reserve, Growth rate previous period (OECDULQECU01GPSAQ), retrieved from FRED.