Price Level of GDP, G-K method for Panama
PLOGDPPAA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68.36
Year-over-Year Change
-2.01%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Panama measures the overall price level in the Panamanian economy, a key indicator of economic conditions and inflation.
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 trend represents the price index for gross domestic product (GDP) in Panama, calculated using the Geary-Khamis (G-K) method. The G-K method is a widely used approach for international price comparisons and provides insights into the relative purchasing power across countries.
Methodology
The data is collected and calculated by the World Bank using national accounts and expenditure data.
Historical Context
Policymakers and analysts use this metric to assess the state of the Panamanian economy and make informed decisions.
Key Facts
- The base year for this index is 2010.
- Panama is a dollarized economy, using the U.S. dollar as its official currency.
- The G-K method accounts for differences in purchasing power across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the overall price level of goods and services produced within the Panamanian economy, as captured by the GDP price index.
Q: Why is this trend relevant for users or analysts?
A: The Price Level of GDP for Panama provides important insights into the country's economic performance and inflation dynamics, which are crucial for policymakers and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and expenditure data, applying the Geary-Khamis method for international price comparisons.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess the state of the Panamanian economy, make informed decisions, and compare price levels across countries.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions of the World Bank's national accounts statistics.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Panama (PLOGDPPAA621NUPN), retrieved from FRED.