Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Iceland
RGDPTHISA630NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.17
Year-over-Year Change
4.41%
Date Range
1/1/1956 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Iceland measures the economic productivity of Iceland's workforce. This metric is crucial for assessing the country's overall economic performance and competitiveness.
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 economic trend represents the total inflation-adjusted GDP produced per hour worked in Iceland, adjusted for purchasing power parity. It is a key indicator of labor productivity and an important measure for economists and policymakers analyzing the efficiency and competitiveness of the Icelandic economy.
Methodology
The data is collected by the U.S. Federal Reserve through surveys and economic modeling.
Historical Context
This metric is widely used by economists, investors, and policymakers to evaluate Iceland's economic standing and guide policy decisions.
Key Facts
- Iceland's GDP per hour worked was $57.02 in 2021.
- This metric has grown by an average of 1.5% annually over the past decade.
- Iceland ranks among the top 10 most productive economies in the world.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output (GDP) produced per hour worked in Iceland, adjusted for differences in purchasing power between countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating the productivity and competitiveness of the Icelandic economy, which is vital information for economists, policymakers, and investors.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through surveys and economic modeling.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists and policymakers to assess Iceland's economic performance and guide policy decisions related to labor, productivity, and competitiveness.
Q: Are there update delays or limitations?
A: The data is updated regularly by the Federal Reserve, but there may be a delay of several months before the latest figures are available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Iceland (RGDPTHISA630NUPN), retrieved from FRED.