National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Russia
Growth rate previous period, Annual
NAEXKP01RUA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-2.95
Year-over-Year Change
-156.24%
Date Range
1/1/2004 - 1/1/2020
Summary
The annual growth rate of Gross Domestic Product (GDP) measures the percentage change in the total economic output of a country over the previous year. This metric is a key indicator of a nation's economic health and performance.
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 annual GDP growth rate is a widely-used statistic that captures the overall expansion or contraction of a country's economy. It provides a comprehensive view of economic activity and is closely monitored by policymakers, analysts, and investors to assess economic trends and inform decision-making.
Methodology
The Bureau of Economic Analysis calculates the annual GDP growth rate based on the year-over-year change in real GDP, which is adjusted for inflation.
Historical Context
Policymakers and central banks utilize the GDP growth rate to guide monetary and fiscal policies, while investors and analysts use it to evaluate investment opportunities and economic prospects.
Key Facts
- The U.S. GDP growth rate averaged 2.3% annually from 2010 to 2019.
- In 2020, the U.S. GDP growth rate declined by 3.4% due to the COVID-19 pandemic.
- Strong GDP growth is generally associated with increased employment, consumer spending, and business investment.
FAQs
Q: What does this economic trend measure?
A: The annual GDP growth rate measures the percentage change in the total economic output of a country over the previous year. It provides a comprehensive view of a nation's economic performance and expansion.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate is a crucial indicator that helps policymakers, economists, and investors assess the overall health and direction of a country's economy. It informs decision-making and serves as a barometer for economic conditions.
Q: How is this data collected or calculated?
A: The Bureau of Economic Analysis calculates the annual GDP growth rate based on the year-over-year change in real GDP, which is adjusted for inflation.
Q: How is this trend used in economic policy?
A: Policymakers and central banks closely monitor the GDP growth rate to guide monetary and fiscal policies, such as interest rate decisions and government spending, to promote economic stability and growth.
Q: Are there update delays or limitations?
A: The GDP growth rate data is typically released on a quarterly basis, with a delay of several weeks. While comprehensive, the data may not capture the most recent economic developments due to this reporting lag.
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Citation
U.S. Federal Reserve, Growth rate previous period, Annual (NAEXKP01RUA657S), retrieved from FRED.