Total Credit to Private Non-Financial Sector, Adjusted for Breaks, for Saudi Arabia
Billions of US Dollars
QSAPAMUSDA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
889.53
Year-over-Year Change
35.18%
Date Range
1/1/1993 - 10/1/2024
Summary
This series measures the total value of goods and services produced in the United States, expressed in billions of US dollars. It is a key indicator of economic growth and a widely used metric for policymakers and analysts.
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
Gross Domestic Product (GDP) is the broadest measure of economic activity in the United States. It represents the total monetary value of all final goods and services produced within the country's borders over a specific period, typically a quarter or a year.
Methodology
GDP data is collected and calculated by the Bureau of Economic Analysis, a division of the US Department of Commerce.
Historical Context
GDP is a crucial metric for assessing the overall health and performance of the US economy, and it informs important policy decisions.
Key Facts
- GDP reached a record high of over $23 trillion in 2021.
- The US economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- GDP growth is a key target for the Federal Reserve's monetary policy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services produced in the United States, expressed in billions of US dollars. It is the broadest indicator of economic activity and growth.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial metric for assessing the overall health and performance of the US economy. It informs important policy decisions by the Federal Reserve, Congress, and other government agencies.
Q: How is this data collected or calculated?
A: The GDP data is collected and calculated by the Bureau of Economic Analysis, a division of the US Department of Commerce.
Q: How is this trend used in economic policy?
A: GDP growth is a key target for the Federal Reserve's monetary policy, as it aims to achieve stable prices and maximum employment. Policymakers also use GDP data to inform decisions on fiscal policy, trade, and other economic measures.
Q: Are there update delays or limitations?
A: GDP data is released on a quarterly basis, with initial estimates followed by revisions as more complete information becomes available. There can be lags and revisions in the data, but it remains the most comprehensive measure of overall economic activity in the United States.
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Citation
U.S. Federal Reserve, Billions of US Dollars (QSAPAMUSDA), retrieved from FRED.