Nominal Total Credit to General Government, Adjusted for Breaks, for Norway
Billions of US Dollars
QNOGANUSDA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
252.17
Year-over-Year Change
24.43%
Date Range
1/1/2000 - 10/1/2024
Summary
The 'Billions of US Dollars' economic trend measures the total value of goods and services produced in the United States. It is a key indicator of the overall health and size 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
This metric, also known as Gross Domestic Product (GDP), represents the total market value of all final goods and services produced within the United States in a given period. It is widely used by economists, policymakers, and analysts to assess economic performance and guide decision-making.
Methodology
The Bureau of Economic Analysis (BEA) calculates GDP by aggregating consumer spending, business investment, government spending, and net exports.
Historical Context
GDP data is crucial for monetary and fiscal policy, as it informs the Federal Reserve's decisions on interest rates and Congress' budgeting and taxation policies.
Key Facts
- The U.S. GDP reached a record high of $23.99 trillion in 2021.
- GDP growth rate was 6.9% in Q4 2021, indicating a strong economic recovery.
- GDP per capita in the U.S. was $63,416 in 2021.
FAQs
Q: What does this economic trend measure?
A: The 'Billions of US Dollars' trend measures the total value of goods and services produced in the United States, also known as Gross Domestic Product (GDP).
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator of a country's economic performance and is widely used by economists, policymakers, and analysts to assess the overall health and size of the U.S. economy.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis (BEA) calculates GDP by aggregating consumer spending, business investment, government spending, and net exports.
Q: How is this trend used in economic policy?
A: GDP data is crucial for monetary and fiscal policy, as it informs the Federal Reserve's decisions on interest rates and Congress' budgeting and taxation policies.
Q: Are there update delays or limitations?
A: GDP data is released quarterly by the BEA, with a delay of approximately one month after the end of each quarter.
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Citation
U.S. Federal Reserve, Billions of US Dollars (QNOGANUSDA), retrieved from FRED.