National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Slovak Republic
Growth rate same period previous year, Annual
NAEXKP03SKA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.74
Year-over-Year Change
-1069.61%
Date Range
1/1/1998 - 1/1/2024
Summary
This economic trend measures the annual growth rate in gross domestic product (GDP) compared to the same period a year earlier. It provides insights into the overall pace of economic expansion or contraction.
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 GDP growth rate year-over-year is a key indicator used by economists and policymakers to assess the health and trajectory of the U.S. economy. It helps identify periods of economic growth, stagnation, or recession.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on the change in real GDP between a given quarter and the same quarter a year earlier.
Historical Context
Policymakers at the Federal Reserve and other government agencies closely monitor this trend to inform monetary and fiscal policy decisions.
Key Facts
- GDP growth rate reached a high of 6.9% in Q4 2021.
- The economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- Growth rates can vary significantly across different sectors and regions.
FAQs
Q: What does this economic trend measure?
A: This trend measures the annual growth rate in real gross domestic product (GDP) compared to the same period a year earlier. It provides insights into the overall pace of economic expansion or contraction.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate year-over-year is a key indicator used by economists and policymakers to assess the health and trajectory of the U.S. economy. It helps identify periods of economic growth, stagnation, or recession.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on the change in real GDP between a given quarter and the same quarter a year earlier.
Q: How is this trend used in economic policy?
A: Policymakers at the Federal Reserve and other government agencies closely monitor this trend to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The GDP growth rate data is typically released on a quarterly basis with a short delay, allowing for accurate measurement and reporting.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual (NAEXKP03SKA659S), retrieved from FRED.