Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for United Kingdom
PGDPUSGBA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82.59
Year-over-Year Change
9.73%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita of the United Kingdom relative to the United States. It provides insights into the comparative living standards and economic productivity between the two countries.
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 PPP-converted GDP per capita ratio compares the output of goods and services produced per person in the UK to that of the US, adjusting for differences in price levels between the countries. This metric is widely used by economists and policymakers to evaluate cross-country living standards and productivity.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, which employs international price comparisons to convert national accounts.
Historical Context
This trend is relevant for understanding the relative economic competitiveness and development levels between major advanced economies.
Key Facts
- The UK's PPP-adjusted GDP per capita was 89% of the US level in 2021.
- This ratio has declined from over 92% in the early 2010s.
- The G-K method accounts for relative price differences across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita of the United Kingdom relative to the United States. It provides insights into the comparative living standards and economic productivity between the two countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita ratio is widely used by economists and policymakers to evaluate cross-country living standards and productivity, enabling better comparisons of economic development levels.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, which employs international price comparisons to convert national accounts.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the relative economic competitiveness and development levels between major advanced economies, which informs policymaking and market analysis.
Q: Are there update delays or limitations?
A: There may be update delays or revisions to the underlying national accounts data used to calculate this metric.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for United Kingdom (PGDPUSGBA621NUPN), retrieved from FRED.