National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Canada
Growth rate same period previous year, Annual
NAEXKP03CAA659S • 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
This economic indicator measures the annual growth rate of GDP compared to the same period in the previous year. It provides insights into the overall performance 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
The growth rate same period previous year, Annual metric tracks the year-over-year change in real gross domestic product (GDP). It is a key measure of economic expansion or contraction and is widely used by policymakers, analysts, and investors to assess the health and direction of the U.S. economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on official GDP figures.
Historical Context
This trend is closely monitored by the Federal Reserve and other institutions to inform economic and monetary policy decisions.
Key Facts
- The annual GDP growth rate has averaged 2.3% since 1990.
- Negative growth rates indicate an economic recession.
- This metric is released quarterly by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the year-over-year change in real gross domestic product (GDP), providing insights into the overall performance and trajectory of the U.S. economy.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate is a key metric used by policymakers, economists, and investors to assess the health and direction of the U.S. economy, informing decisions around economic and monetary policy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on official GDP figures.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by the Federal Reserve and other institutions to inform economic and monetary policy decisions.
Q: Are there update delays or limitations?
A: The GDP growth rate data is released quarterly by the Bureau of Economic Analysis, with a typical delay of several weeks.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual (NAEXKP03CAA659S), retrieved from FRED.