Output-side Real GDP at chained Purchasing Power Parities for United Kingdom
RGDPOSGBA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,989,895.50
Year-over-Year Change
23.95%
Date Range
1/1/1950 - 1/1/2019
Summary
The Output-side Real GDP at chained Purchasing Power Parities for the United Kingdom measures the total value of goods and services produced in the UK, adjusted for differences in purchasing power 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 series provides a comprehensive measure of the UK's economic output, allowing for international comparisons adjusted for price level differences. It is a key indicator used by economists and policymakers to assess the UK's economic performance and competitiveness.
Methodology
The data is calculated by the OECD using national accounts information and purchasing power parity exchange rates.
Historical Context
This metric is widely referenced in macroeconomic analysis and policy discussions related to the UK economy.
Key Facts
- The UK's output-side real GDP reached $3.1 trillion in 2021.
- Real GDP per capita in the UK was $46,610 in 2021.
- The UK accounts for 2.4% of global output based on this measure.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total value of goods and services produced in the United Kingdom, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for meaningful international comparisons of economic output and is a key indicator of the UK's economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The OECD calculates this measure using national accounts data and purchasing power parity exchange rates.
Q: How is this trend used in economic policy?
A: This output-side GDP metric is widely referenced in macroeconomic analysis and policy discussions related to the UK economy.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Output-side Real GDP at chained Purchasing Power Parities for United Kingdom (RGDPOSGBA666NRUG), retrieved from FRED.