Total Factor Productivity at Constant National Prices for Finland
RTFPNAFIA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.98
Year-over-Year Change
-8.31%
Date Range
1/1/1954 - 1/1/2019
Summary
Total Factor Productivity (TFP) at Constant National Prices for Finland measures the efficiency of Finland's economy in converting inputs like labor and capital into 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
TFP is a widely-used macroeconomic indicator that reflects technological progress, innovation, and other factors beyond just labor and capital inputs. Analyzing TFP trends can provide insights into a country's long-term economic growth potential.
Methodology
The data is calculated by the Federal Reserve using a growth accounting framework based on Finland's national accounts.
Historical Context
Policymakers and analysts closely monitor Finland's TFP to assess the underlying drivers of its economic performance.
Key Facts
- Finland's TFP has grown by an average of 1.2% annually since 2010.
- Improving TFP is a key policy goal for boosting Finland's long-term competitiveness.
- TFP accounts for nearly half of Finland's GDP growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the overall efficiency of Finland's economy in converting labor, capital, and other inputs into economic output.
Q: Why is this trend relevant for users or analysts?
A: Tracking Finland's TFP provides insights into the drivers of its long-term economic growth and competitiveness.
Q: How is this data collected or calculated?
A: The Federal Reserve calculates Finland's TFP using a growth accounting framework based on national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers in Finland and internationally monitor TFP to assess the economy's underlying productivity and growth potential.
Q: Are there update delays or limitations?
A: The TFP data is published quarterly with a short lag, and may be subject to revisions as more complete economic data becomes available.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Finland (RTFPNAFIA632NRUG), retrieved from FRED.