Purchasing Power Parity Converted GDP Laspeyres per worker for Greece
RGDPLWGRA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57,363.85
Year-over-Year Change
21.89%
Date Range
1/1/1951 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Laspeyres per worker for Greece measures the economic productivity of Greek workers adjusted for price differences across countries.
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 metric represents the real GDP output per worker in Greece, using purchasing power parity to account for cost-of-living variations. It is a key indicator of labor productivity and living standards in the Greek economy.
Methodology
The data is calculated by the Conference Board using national accounts and labor force statistics.
Historical Context
This trend is widely used by economists, policymakers, and investors to benchmark Greece's economic performance relative to other countries.
Key Facts
- Greece's GDP per worker in 2021 was $46,830.
- Greece's productivity lags the OECD average by about 25%.
- This metric has declined since the 2008 financial crisis.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real GDP output per worker in Greece, adjusted for purchasing power parity to account for cost-of-living differences across countries.
Q: Why is this trend relevant for users or analysts?
A: This is a key indicator of labor productivity and living standards in the Greek economy, allowing for international comparisons.
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: Economists and policymakers use this metric to benchmark Greece's economic performance and living standards relative to other countries.
Q: Are there update delays or limitations?
A: The data is published annually with a short delay, and may not fully capture informal economic activity.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per worker for Greece (RGDPLWGRA627NUPN), retrieved from FRED.