Total Factor Productivity at Constant National Prices for Greece
RTFPNAGRA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.02
Year-over-Year Change
-18.26%
Date Range
1/1/1955 - 1/1/2019
Summary
This economic trend measures total factor productivity in Greece, which is a key indicator of long-term economic growth and efficiency.
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
Total factor productivity (TFP) captures the overall efficiency of an economy, measuring how effectively labor and capital inputs are used to produce output. It is a crucial metric for understanding the drivers of economic expansion beyond just capital and labor accumulation.
Methodology
The data is calculated by the Federal Reserve based on national accounts and productivity data.
Historical Context
TFP is closely watched by policymakers and analysts to gauge the competitiveness and growth potential of the Greek economy.
Key Facts
- TFP growth measures efficiency gains beyond just labor and capital inputs.
- Greece's TFP declined during the 2008 financial crisis but has since recovered.
- Improving TFP is crucial for boosting long-term economic prospects in Greece.
FAQs
Q: What does this economic trend measure?
A: This trend measures total factor productivity (TFP) in Greece, which captures the overall efficiency of the economy in converting labor and capital inputs into economic output.
Q: Why is this trend relevant for users or analysts?
A: TFP is a key indicator of long-term economic growth and competitiveness, as it reflects how effectively an economy utilizes its resources. Monitoring Greece's TFP is crucial for understanding the country's growth potential and economic health.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on national accounts and productivity statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely watch Greece's TFP to gauge the country's competitiveness and prospects for sustainable economic expansion. Improving TFP is a key policy objective for boosting long-term growth.
Q: Are there update delays or limitations?
A: The TFP data for Greece is published regularly by the Federal Reserve, but there may be some delays in the most recent updates due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Greece (RTFPNAGRA632NRUG), retrieved from FRED.