Growth Rate Same Period Previous Year, Annual
PIEAMP02G7A659N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.70
Year-over-Year Change
-156.67%
Date Range
1/1/1983 - 1/1/2016
Summary
This economic indicator measures the annual growth rate of personal income. It is a key metric for assessing the overall health and momentum of the U.S. economy.
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, Annual tracks the year-over-year percent change in personal income, a broad measure of household earnings from sources like wages, investments, and government benefits. This data provides insights into consumer spending power and economic performance.
Methodology
The U.S. Bureau of Economic Analysis calculates this series using personal income data collected through surveys and administrative records.
Historical Context
Policymakers and analysts monitor this indicator to understand broader economic trends and inform fiscal and monetary policies.
Key Facts
- Personal income accounts for over 70% of U.S. gross domestic product.
- The growth rate reached a peak of 13.3% in 2021 as pandemic-related government aid boosted household incomes.
- Sustained growth in personal income supports increased consumer spending, a major driver of economic expansion.
FAQs
Q: What does this economic trend measure?
A: The Growth Rate Same Period Previous Year, Annual tracks the year-over-year percent change in personal income, a broad measure of household earnings from sources like wages, investments, and government benefits.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into consumer spending power and the overall health of the U.S. economy, making it a closely watched metric for policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this series using personal income data collected through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this indicator to understand broader economic trends and inform fiscal and monetary policies that can impact consumer spending and economic growth.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately one month, and may be subject to revisions as more complete information becomes available.
Related Trends
Infra-Annual Labor Statistics: Employment: Economic Activity: Services: Total for G7
G7LFEASETTSTSAQ
Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: All Items Non-Food Non-Energy for G7
G7CPGRLE01IXOBM
Balance of Payments: Financial Account: Liabilities (or Net Incurrence of Liabilities) for G7
G7B6FATD01CXCUQ
Infra-Annual Labor Statistics: Persons Outside the Labor Force Total: From 25 to 54 Years for G7
G7LFIN25TTSTQ
Infra-Annual Labor Statistics: Labor Force Male: 15 Years or over for G7
G7LFACTTMAGPQ
Consumer Price Index: Food and non-Alcoholic beverages (COICOP 01): Total: Total for G7
G7CP010000GPM
Citation
U.S. Federal Reserve, Growth Rate Same Period Previous Year, Annual (PIEAMP02G7A659N), retrieved from FRED.