Purchasing Power Parity Converted GDP Chain per worker for Norway
RGDPWONOA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
94,862.99
Year-over-Year Change
13.21%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per worker in Norway. It provides insights into labor productivity and the relative economic well-being of Norwegian workers.
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 Chain per worker for Norway is a key metric for evaluating the productivity and living standards of the Norwegian workforce. It adjusts the country's GDP for differences in price levels, allowing for cross-country comparisons of economic output per worker.
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 assess Norway's economic competitiveness and the efficiency of its labor market.
Key Facts
- Norway has one of the highest GDP per worker levels in the world.
- Norwegian workers' productivity has grown steadily over the past decade.
- Norway's high living standards are partly driven by its efficient labor market.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per worker in Norway, providing insights into labor productivity and economic well-being.
Q: Why is this trend relevant for users or analysts?
A: This trend is widely used to assess Norway's economic competitiveness and the efficiency of its labor market, making it relevant for economists, policymakers, and investors.
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: This trend is used by economists and policymakers to evaluate Norway's labor productivity and living standards, informing economic policies and strategies.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and may have some delays in availability, but it provides a reliable and internationally comparable measure of Norway's economic performance.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Norway (RGDPWONOA627NUPN), retrieved from FRED.