National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Canada
Growth rate previous period, Annual
NAEXKP03CAA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.17
Year-over-Year Change
353.58%
Date Range
1/1/1962 - 1/1/2024
Summary
The 'Growth rate previous period, Annual' measures the year-over-year change in real GDP, providing insight into the overall health and trajectory of the U.S. 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
This economic indicator tracks the annual growth rate of real gross domestic product (GDP), a key measure of economic activity. It is widely used by policymakers, analysts, and economists to assess the country's economic performance and guide decision-making.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on its estimates of real GDP.
Historical Context
The GDP growth rate is a crucial input for fiscal and monetary policy decisions.
Key Facts
- The U.S. GDP growth rate averaged 2.3% annually from 2010-2019.
- GDP growth slowed to 2.2% in 2019 due to trade tensions and global economic uncertainty.
- The COVID-19 pandemic caused a historic 3.5% contraction in U.S. GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate previous period, Annual' tracks the year-over-year change in real gross domestic product (GDP), which is the broadest measure of economic activity in the United States.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate is a key indicator of a country's economic health and performance. It is closely monitored by policymakers, businesses, and investors to gauge the overall trajectory of the economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on its estimates of real GDP.
Q: How is this trend used in economic policy?
A: The GDP growth rate is a crucial input for fiscal and monetary policy decisions made by the U.S. government and the Federal Reserve to promote stable and sustainable economic growth.
Q: Are there update delays or limitations?
A: The GDP growth rate data is published quarterly with a lag of approximately one month, so there may be a short delay in the most recent figures.
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Citation
U.S. Federal Reserve, Growth rate previous period, Annual (NAEXKP03CAA657S), retrieved from FRED.