Individual Income Tax Filing: Earned Income Credit Used to Offset Income Tax Before Credits
Thousands of U.S. Dollars
ENINCCTOINA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,403,058.00
Year-over-Year Change
82.80%
Date Range
1/1/1999 - 1/1/2016
Summary
This economic trend measures the value of national income in the United States, expressed in thousands of U.S. dollars. It provides key insights into the overall health and growth of the American 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 'Thousands of U.S. Dollars' series represents the total nominal income generated within the United States, a fundamental indicator of economic performance. This data is widely used by economists and policymakers to analyze trends in national productivity, consumer spending, and broader macroeconomic conditions.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounts and income statistics.
Historical Context
This economic indicator is closely monitored by the Federal Reserve and other government agencies to inform monetary and fiscal policy decisions.
Key Facts
- The U.S. national income exceeded $21 trillion in 2021.
- National income has grown by over 50% in the past two decades.
- Consumer spending accounts for approximately 70% of U.S. national income.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total nominal income generated within the United States, a key indicator of the overall size and health of the American economy.
Q: Why is this trend relevant for users or analysts?
A: National income data is widely used by economists, policymakers, and market analysts to assess macroeconomic conditions, monitor growth trends, and inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis using national accounts and income statistics.
Q: How is this trend used in economic policy?
A: This economic indicator is closely monitored by the Federal Reserve and other government agencies to inform monetary and fiscal policy decisions aimed at promoting economic stability and growth.
Q: Are there update delays or limitations?
A: The national income data is typically released on a quarterly basis, with some potential for minor revisions in subsequent releases.
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Citation
U.S. Federal Reserve, Thousands of U.S. Dollars (ENINCCTOINA), retrieved from FRED.