Consumer Price Index: OECD Groups: Services: Total for Ireland
Monthly
IRLCPGRSE01GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.08
Year-over-Year Change
-753.69%
Date Range
12/1/1982 - 11/1/2023
Summary
The 'Monthly' economic trend measures the real gross domestic product (GDP) growth rate in the Eurozone on a monthly basis. This indicator is a key metric for policymakers and analysts to gauge the health and direction of the Eurozone 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 'Monthly' trend tracks the month-over-month percentage change in real GDP for the Eurozone, a major economic region. It provides a timely assessment of economic activity and is used to inform monetary and fiscal policy decisions.
Methodology
The data is collected and calculated by Eurostat, the statistical office of the European Union.
Historical Context
This economic indicator is closely watched by central banks, governments, and financial markets to understand current economic conditions and make informed policy choices.
Key Facts
- The Eurozone economy accounts for approximately 16% of global GDP.
- Rapid GDP growth can signal inflationary pressures, while slow growth may prompt stimulus measures.
- Monthly GDP data is more timely than quarterly figures, allowing for faster policy responses.
FAQs
Q: What does this economic trend measure?
A: The 'Monthly' trend measures the month-over-month percentage change in real GDP for the Eurozone, providing a timely assessment of economic activity in the region.
Q: Why is this trend relevant for users or analysts?
A: This indicator is closely watched by policymakers, economists, and financial markets to understand current economic conditions and inform policy decisions in the Eurozone.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: Central banks, governments, and financial institutions use this monthly GDP data to assess the state of the Eurozone economy and make informed monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The monthly GDP data is typically released with a 1-2 month delay, providing a timely but not real-time assessment of economic activity.
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Citation
U.S. Federal Reserve, IRLCPGRSE01GPM (Monthly), retrieved from FRED.