Purchasing Power Parity Converted GDP Chain per worker for Canada
RGDPWOCAA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
68,692.18
Year-over-Year Change
14.05%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Chain per worker for Canada measures the economic productivity and standard of living in Canada. It is a key indicator used by economists and policymakers to assess the country's economic performance and competitiveness.
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 represents the real GDP per worker in Canada, adjusted for differences in purchasing power across countries. It provides a more accurate comparison of economic output and living standards than using nominal exchange rates.
Methodology
The data is calculated by the Conference Board using national accounts and employment statistics.
Historical Context
Trends in this metric are closely monitored by institutions like the OECD and IMF to evaluate Canada's economic competitiveness and growth potential.
Key Facts
- Canada's GDP per worker was $59,302 in 2020.
- Canada's GDP per worker has grown by 18% since 2010.
- Canada ranks 10th globally in GDP per worker adjusted for purchasing power.
FAQs
Q: What does this economic trend measure?
A: This metric measures the real GDP per worker in Canada, adjusted for differences in purchasing power across countries. It provides a more accurate assessment of economic productivity and living standards than using nominal exchange rates.
Q: Why is this trend relevant for users or analysts?
A: Trends in Canada's GDP per worker adjusted for purchasing power are closely monitored by economists, policymakers, and international institutions to evaluate the country's economic competitiveness and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using national accounts and employment statistics.
Q: How is this trend used in economic policy?
A: Measures of GDP per worker adjusted for purchasing power are used by institutions like the OECD and IMF to assess a country's economic performance and living standards relative to its peers, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Canada (RGDPWOCAA627NUPN), retrieved from FRED.