Purchasing Power Parity Converted GDP Laspeyres per worker for United Kingdom
RGDPLWGBA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
67,097.91
Year-over-Year Change
15.64%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity-adjusted gross domestic product per worker in the United Kingdom. It provides insights into labor productivity and economic growth potential.
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 Purchasing Power Parity Converted GDP Laspeyres per worker for the United Kingdom is an indicator of the country's economic output per employed person, adjusted for differences in purchasing power across countries. It is a widely used metric for international comparisons of labor productivity and living standards.
Methodology
The data is calculated by the Conference Board using national accounts and labor force statistics.
Historical Context
This trend is closely monitored by policymakers, economists, and investors to assess the UK's economic competitiveness and growth prospects.
Key Facts
- The UK's GDP per worker adjusted for purchasing power was $78,590 in 2021.
- This metric has grown by an average of 1.3% annually over the past decade.
- The UK ranks 7th globally in terms of purchasing power-adjusted GDP per worker.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity-adjusted gross domestic product per worker in the United Kingdom. It provides a standardized metric for comparing labor productivity across countries.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for assessing the UK's economic competitiveness and growth potential. It allows for meaningful international comparisons of living standards and labor productivity.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors closely monitor this trend to evaluate the UK's economic performance and guide policy decisions related to productivity, competitiveness, and growth.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year. There may be revisions to historical figures as new information becomes available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per worker for United Kingdom (RGDPLWGBA627NUPN), retrieved from FRED.