Average Hourly Earnings of All Employees: Construction in Connecticut
Annual
SMU09000002000000003A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
41.48
Year-over-Year Change
43.93%
Date Range
1/1/2007 - 1/1/2024
Summary
The Annual Trend measures the average annual growth rate of real GDP in the United States. It is a key indicator of overall economic performance and a vital metric for policymakers and analysts.
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 Annual Trend represents the year-over-year percentage change in the inflation-adjusted value of total goods and services produced in the U.S. economy. It is a widely followed measure of macroeconomic growth and a crucial input for assessing the health and trajectory of the national economy.
Methodology
The U.S. Bureau of Economic Analysis calculates the Annual Trend based on comprehensive data on economic output, spending, and income.
Historical Context
The Annual Trend is closely monitored by the Federal Reserve, Congressional budget offices, and private sector economists to inform monetary and fiscal policy decisions.
Key Facts
- The Annual Trend averaged 2.3% from 2010-2019.
- The U.S. economy contracted by 3.4% in 2020 due to the COVID-19 pandemic.
- Annual GDP growth exceeded 6% in 1984 during a period of economic expansion.
FAQs
Q: What does this economic trend measure?
A: The Annual Trend measures the year-over-year percentage change in the inflation-adjusted value of total goods and services produced in the U.S. economy, also known as real GDP growth.
Q: Why is this trend relevant for users or analysts?
A: The Annual Trend is a crucial indicator of overall macroeconomic performance and a vital input for policymakers, businesses, and economists in assessing the health and trajectory of the U.S. economy.
Q: How is this data collected or calculated?
A: The U.S. Bureau of Economic Analysis calculates the Annual Trend based on comprehensive data on economic output, spending, and income.
Q: How is this trend used in economic policy?
A: The Annual Trend is closely monitored by the Federal Reserve, Congressional budget offices, and private sector economists to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The Annual Trend data is published on a quarterly basis, with a delay of several weeks due to the comprehensive data collection process.
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Citation
U.S. Federal Reserve, Annual (SMU09000002000000003A), retrieved from FRED.