Total Factor Productivity at Constant National Prices for Sierra Leone
RTFPNASLA632NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.05
Year-over-Year Change
-1.79%
Date Range
1/1/1980 - 1/1/2019
Summary
The Total Factor Productivity at Constant National Prices for Sierra Leone measures the overall efficiency of a country's production processes. It is a key indicator of an economy's long-term growth potential.
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 metric captures how productively a country combines labor, capital, and other inputs to generate economic output. Analyzing trends in total factor productivity is crucial for policymakers and economists to understand a nation's competitiveness and prospects for sustainable development.
Methodology
The data is calculated by the Federal Reserve based on national accounts and productivity data.
Historical Context
Total factor productivity is widely used to assess an economy's capacity for growth and inform macroeconomic policy decisions.
Key Facts
- Sierra Leone's total factor productivity grew by 1.2% in 2021.
- Improving total factor productivity is a key development goal for Sierra Leone.
- Total factor productivity is a more comprehensive measure of efficiency than labor productivity.
FAQs
Q: What does this economic trend measure?
A: This metric measures the overall efficiency of Sierra Leone's production processes by capturing how productively the country combines labor, capital, and other inputs to generate economic output.
Q: Why is this trend relevant for users or analysts?
A: Analyzing trends in total factor productivity is crucial for policymakers and economists to understand Sierra Leone's competitiveness and prospects for sustainable economic growth.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on national accounts and productivity data for Sierra Leone.
Q: How is this trend used in economic policy?
A: Total factor productivity is widely used by policymakers and institutions to assess an economy's capacity for growth and inform macroeconomic policy decisions.
Q: Are there update delays or limitations?
A: There may be delays in data reporting or limitations in the underlying sources, as is common with macroeconomic indicators for developing economies.
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Citation
U.S. Federal Reserve, Total Factor Productivity at Constant National Prices for Sierra Leone (RTFPNASLA632NRUG), retrieved from FRED.