National Accounts: GDP by Expenditure: Constant Prices: Exports of Goods and Services for Australia
Growth rate same period previous year, Annual
NAEXKP06AUA659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.97
Year-over-Year Change
-83.57%
Date Range
1/1/1961 - 1/1/2024
Summary
This economic indicator measures the annual growth rate of gross domestic product (GDP) compared to the same period in the previous year. It provides insights 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
The annual growth rate of GDP, adjusted for inflation, is a key metric used by economists and policymakers to assess the performance of the U.S. economy. It reflects the year-over-year change in the total value of goods and services produced within the country.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis based on national accounts and GDP estimates.
Historical Context
This trend is closely monitored by the Federal Reserve and other institutions to inform economic policies and make decisions about interest rates, spending, and investment.
Key Facts
- The U.S. GDP growth rate averaged 2.3% annually from 2010 to 2019.
- In 2020, the U.S. GDP growth rate contracted by 3.4% due to the COVID-19 pandemic.
- The highest annual GDP growth rate in the U.S. was 7.2% in 1984.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the annual growth rate of the U.S. gross domestic product (GDP) compared to the same period in the previous year.
Q: Why is this trend relevant for users or analysts?
A: The annual GDP growth rate is a key metric used by economists, policymakers, and investors to assess the overall health and performance of the U.S. economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis based on national accounts and GDP estimates.
Q: How is this trend used in economic policy?
A: The Federal Reserve and other institutions closely monitor this trend to inform economic policies, decisions about interest rates, and recommendations for spending and investment.
Q: Are there update delays or limitations?
A: The annual GDP growth rate data is typically released with a delay of a few months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Annual (NAEXKP06AUA659S), retrieved from FRED.