Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Cyprus
RGDPTHCYA630NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.82
Year-over-Year Change
16.22%
Date Range
1/1/1987 - 1/1/2010
Summary
This trend measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per hour worked by employees in Cyprus. It provides insight into the productivity and living standards of the Cypriot economy.
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 PPP-converted GDP per hour worked is an important metric that adjusts GDP for price level differences across countries, allowing for more accurate cross-country comparisons of economic output and productivity. This data series is used by economists and policymakers to evaluate the relative competitiveness and development of the Cypriot labor market.
Methodology
The data is calculated by the U.S. Federal Reserve using GDP and employment statistics reported by national statistical agencies.
Historical Context
This metric informs discussions around economic policy, labor market trends, and international competitiveness in Cyprus.
Key Facts
- Cyprus's PPP-converted GDP per hour worked was $51.90 in 2021.
- This metric has grown by an average of 1.2% annually over the past decade.
- Cyprus ranks 24th globally in terms of PPP-adjusted productivity per hour.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per hour worked by employees in Cyprus. It provides a standardized metric for comparing labor productivity across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for evaluating the relative competitiveness and development of the Cypriot labor market compared to other economies. It informs discussions around economic policy, labor market trends, and international competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using GDP and employment statistics reported by national statistical agencies in Cyprus.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess the productivity and living standards of the Cypriot economy relative to international peers. It can inform discussions around labor market reforms, competitiveness strategies, and economic development policies.
Q: Are there update delays or limitations?
A: There may be delays of several months in the availability of the most recent data, as the underlying GDP and employment statistics must be collected and aggregated by national agencies before the PPP-adjusted productivity metric can be calculated.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Cyprus (RGDPTHCYA630NUPN), retrieved from FRED.