Price Level of GDP, G-K method for Romania
PLOGDPROA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62.58
Year-over-Year Change
54.17%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Romania measures the purchasing power of the Romanian economy by comparing its GDP to a base year. This metric is critical for assessing the country's economic health and international competitiveness.
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 Price Level of GDP, G-K method for Romania is an index that represents the price level of the Romanian economy relative to a base year. It is calculated by comparing the nominal GDP of Romania to its real GDP, providing insights into the country's relative purchasing power and cost of living compared to other nations.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using the Geary-Khamis (G-K) method.
Historical Context
This trend is widely used by economists, policymakers, and market analysts to evaluate Romania's economic performance and competitiveness within the global market.
Key Facts
- The base year for the Price Level of GDP index is 2017.
- Romania's Price Level of GDP reached a high of 51.49 in 2019.
- The Price Level of GDP is an important indicator of a country's standard of living.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Romania measures the purchasing power of the Romanian economy by comparing its GDP to a base year.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Romania's economic competitiveness and standard of living compared to other countries, which is crucial for policymakers and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using the Geary-Khamis (G-K) method.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to evaluate Romania's economic performance and international competitiveness, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential revisions by the U.S. Federal Reserve.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Romania (PLOGDPROA621NUPN), retrieved from FRED.