Growth Rate Same Period Previous Year, Annual
PIEAMP02G7A659N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.70
Year-over-Year Change
-156.67%
Date Range
1/1/1983 - 1/1/2016
Summary
This economic indicator measures the annual growth rate of personal income. It is a key metric for assessing the overall health and momentum 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 tracks the year-over-year percent change in personal income, a broad measure of household earnings from sources like wages, investments, and government benefits. This data provides insights into consumer spending power and economic performance.
Methodology
The U.S. Bureau of Economic Analysis calculates this series using personal income data collected through surveys and administrative records.
Historical Context
Policymakers and analysts monitor this indicator to understand broader economic trends and inform fiscal and monetary policies.
Key Facts
- Personal income accounts for over 70% of U.S. gross domestic product.
- The growth rate reached a peak of 13.3% in 2021 as pandemic-related government aid boosted household incomes.
- Sustained growth in personal income supports increased consumer spending, a major driver of economic expansion.
FAQs
Q: What does this economic trend measure?
A: The Growth Rate Same Period Previous Year, Annual tracks the year-over-year percent change in personal income, a broad measure of household earnings from sources like wages, investments, and government benefits.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into consumer spending power and the overall health of the U.S. economy, making it a closely watched metric for policymakers, economists, and market participants.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates this series using personal income data collected through surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this indicator to understand broader economic trends and inform fiscal and monetary policies that can impact consumer spending and economic growth.
Q: Are there update delays or limitations?
A: The data is released monthly with a lag of approximately one month, and may be subject to revisions as more complete information becomes available.
Related Trends
Infra-Annual Labor Statistics: Employment Rate Total: 15 Years or over for G7
G7LREMTTTTSTSAQ
Infra-Annual Labor Statistics: Working-Age Population Total: From 15 to 24 Years for G7
G7LFWA24TTSTQ
Infra-Annual Labor Statistics: Labor Force Male: From 15 to 24 Years for G7
G7LFAC24MASTSAQ
Leading Indicators OECD: Leading indicators: CLI: Amplitude adjusted for G7
G7LOLITOAASTSAM
Infra-Annual Labor Statistics: Monthly Unemployment Female: From 15 to 24 Years for G7
G7LFHU24FESTM
Infra-Annual Labor Statistics: Monthly Unemployment Rate Male: From 15 to 24 Years for G7
G7LRHU24MASTSAM
Citation
U.S. Federal Reserve, Growth Rate Same Period Previous Year, Annual (PIEAMP02G7A659N), retrieved from FRED.