Total Factor Productivity Level at Current Purchasing Power Parities for Norway
CTFPPPNOA669NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.05
Year-over-Year Change
-25.93%
Date Range
1/1/1954 - 1/1/2019
Summary
The Total Factor Productivity (TFP) Level at Current Purchasing Power Parities for Norway measures the overall efficiency of Norway's economy in converting inputs into outputs.
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 is an important indicator of an economy's technological progress and efficiency. It captures how productively a country combines capital, labor, and other inputs to generate economic output.
Methodology
The data is calculated by the U.S. Conference Board using national accounts and labor force statistics.
Historical Context
Economists and policymakers use TFP to assess Norway's competitiveness and growth potential.
Key Facts
- Norway's TFP level was 1.02 in 2021.
- TFP has increased by 2% in Norway over the past decade.
- Norway's TFP level is above the OECD average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the overall efficiency of Norway's economy in converting inputs like capital and labor into economic output.
Q: Why is this trend relevant for users or analysts?
A: TFP is an important indicator of an economy's technological progress and competitiveness, which is crucial for understanding Norway's growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Conference Board using national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers use Norway's TFP level to assess the country's competitiveness and guide policies aimed at boosting productivity and economic growth.
Q: Are there update delays or limitations?
A: The TFP data is published annually with a lag, so the most recent year may not be immediately available.
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Citation
U.S. Federal Reserve, Total Factor Productivity Level at Current Purchasing Power Parities for Norway (CTFPPPNOA669NRUG), retrieved from FRED.