Total Factor Productivity at Constant National Prices for Hungary
RTFPNAHUA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.04
Year-over-Year Change
-0.14%
Date Range
1/1/1974 - 1/1/2019
Summary
Total Factor Productivity (TFP) measures the efficiency of an economy in converting inputs like labor and capital into economic output. It is a key metric for understanding long-term economic growth and productivity trends.
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
TFP at Constant National Prices for Hungary tracks changes in the overall productivity of the Hungarian economy, taking into account factors like technological progress, efficiency gains, and resource utilization. Economists use this metric to analyze the drivers of economic growth and competitiveness.
Methodology
The data is calculated by the Federal Reserve using established growth accounting methods.
Historical Context
This TFP measure is widely referenced by policymakers, central banks, and international organizations when assessing the performance and potential of the Hungarian economy.
Key Facts
- TFP growth is a key driver of long-term economic expansion.
- Hungary's TFP has fluctuated significantly over the past two decades.
- Improving TFP is a policy priority for many developed economies.
FAQs
Q: What does this economic trend measure?
A: Total Factor Productivity (TFP) measures the overall efficiency of an economy in converting labor, capital, and other inputs into economic output.
Q: Why is this trend relevant for users or analysts?
A: TFP is a crucial indicator of an economy's long-term growth potential and competitiveness. Analyzing TFP trends provides important insights for policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using established growth accounting methods.
Q: How is this trend used in economic policy?
A: Policymakers, central banks, and international organizations closely monitor TFP to assess the performance and potential of the Hungarian economy and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, so there may be delays in accessing the most recent TFP figures for Hungary.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Hungary (RTFPNAHUA632NRUG), retrieved from FRED.