Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for New Zealand
RGDPTHNZA630NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31.72
Year-over-Year Change
15.90%
Date Range
1/1/1956 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per hour worked by employees in New Zealand. It provides insights into labor productivity and economic output.
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 hour worked by employees metric offers a standardized way to compare economic output and productivity across countries. It adjusts for differences in price levels to enable meaningful international comparisons.
Methodology
The data is calculated by the Conference Board using national accounts and labor force survey data.
Historical Context
This metric is used by economists and policymakers to assess a country's economic performance and competitiveness.
Key Facts
- New Zealand's GDP per hour worked was $60.39 in 2021.
- This metric has increased by 18% over the past decade in New Zealand.
- New Zealand ranks 8th globally in GDP per hour worked.
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 New Zealand. It provides a standardized way to compare economic output and labor productivity across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing a country's economic performance and competitiveness. It allows for meaningful international comparisons by accounting for differences in price levels between countries.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using national accounts and labor force survey data.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to evaluate a country's economic output and labor productivity, which informs decisions around economic policy, investment, and international competitiveness.
Q: Are there update delays or limitations?
A: There may be some delays in data availability, as the metric relies on national accounts and labor force survey data, which can take time to collect and publish.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for New Zealand (RGDPTHNZA630NUPN), retrieved from FRED.