Annual
SMU72000003000000006A • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.70
Year-over-Year Change
-43.08%
Date Range
1/1/2001 - 1/1/2016
Summary
The Annual trend measures the average annual growth rate of output per hour of all persons in the nonfarm business sector. It is a key indicator of labor productivity and a key determinant of long-term living standards.
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 tracks productivity growth in the U.S. nonfarm business sector, which accounts for about 75% of the total economy. It is a widely used metric for assessing the economy's efficiency and competitiveness.
Methodology
The data is calculated based on Bureau of Labor Statistics measures of output and total hours worked.
Historical Context
Policymakers and economists closely monitor this metric to gauge the economy's capacity for sustainable growth.
Key Facts
- Productivity growth is a key driver of rising living standards.
- The U.S. nonfarm business sector accounts for 75% of total economic output.
- Weak productivity growth can constrain an economy's potential GDP.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the average annual growth rate of output per hour of all persons in the U.S. nonfarm business sector.
Q: Why is this trend relevant for users or analysts?
A: Productivity growth is a critical determinant of long-term living standards and economic competitiveness, so this metric is closely watched by policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the Bureau of Labor Statistics based on measures of output and total hours worked in the nonfarm business sector.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to assess the economy's capacity for sustainable growth and to inform decisions on fiscal, monetary, and regulatory policies.
Q: Are there update delays or limitations?
A: The Annual data is released quarterly with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Annual (SMU72000003000000006A), retrieved from FRED.