Producer Prices Index: Economic Activities: Domestic Manufacturing for the European Union
Growth Rate Same Period Previous Year, Annual
PIEAMP02EUA659N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.73
Year-over-Year Change
-76.50%
Date Range
1/1/1996 - 1/1/2019
Summary
This economic trend measures the year-over-year growth rate of personal income, providing insight into the pace of change in consumer purchasing power and economic activity.
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 personal income growth rate reflects the annual percentage change in total personal income, which includes wages, salaries, government transfers, and other income sources. This metric is closely watched by economists and policymakers to gauge the health and trajectory of the broader economy.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey information and administrative records.
Historical Context
The personal income growth rate is a key input for forecasting consumer spending and monitoring the effectiveness of fiscal and monetary policies.
Key Facts
- Personal income grew 6.1% in 2021 compared to 2020.
- Income from government transfer payments increased sharply during the COVID-19 pandemic.
- Faster personal income growth typically leads to higher consumer spending and GDP.
FAQs
Q: What does this economic trend measure?
A: The personal income growth rate measures the annual percentage change in total personal income, which includes wages, salaries, government transfers, and other income sources.
Q: Why is this trend relevant for users or analysts?
A: The personal income growth rate is a key indicator of consumer purchasing power and the overall health of the economy, providing important context for forecasting consumer spending and evaluating the effectiveness of economic policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using survey information and administrative records.
Q: How is this trend used in economic policy?
A: The personal income growth rate is closely monitored by economists and policymakers to assess the overall state of the economy and inform decisions on fiscal and monetary policies aimed at promoting economic stability and growth.
Q: Are there update delays or limitations?
A: The personal income growth rate data is published monthly with a lag of approximately one month, and may be subject to periodic revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Growth Rate Same Period Previous Year, Annual (PIEAMP02EUA659N), retrieved from FRED.