Producer Prices Index: Type of goods: Non durable consumer goods: Total for Sweden
Quarterly
SWEPITGND01GYQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.70
Year-over-Year Change
-295.33%
Date Range
1/1/1991 - 10/1/2020
Summary
The Quarterly Productivity and Costs report from the U.S. Bureau of Labor Statistics tracks trends in labor productivity and unit labor costs for the nonfarm business sector.
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 data series provides insights into productivity growth, a key driver of economic expansion and living standards. Analysts use these metrics to assess the efficiency of the U.S. economy and make informed policy decisions.
Methodology
The data is collected through surveys of businesses and calculated as the ratio of real output to hours worked.
Historical Context
Policymakers and economists closely monitor productivity trends to understand the economy's capacity for sustainable growth.
Key Facts
- Productivity growth averaged 2.3% annually from 1947-2022.
- Unit labor costs rose 6.3% in 2022, the largest increase since 1982.
- Improving productivity is crucial for raising living standards over time.
FAQs
Q: What does this economic trend measure?
A: The Quarterly Productivity and Costs report tracks labor productivity, defined as real output per hour worked, and unit labor costs, which measure the cost of labor per unit of output.
Q: Why is this trend relevant for users or analysts?
A: Productivity growth is a key driver of economic expansion and rising living standards. Monitoring these metrics helps policymakers and economists assess the economy's efficiency and capacity for sustainable growth.
Q: How is this data collected or calculated?
A: The data is collected through surveys of businesses and calculated as the ratio of real output to hours worked.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor productivity and labor cost trends to understand the economy's capacity for growth and make informed decisions about monetary and fiscal policy.
Q: Are there update delays or limitations?
A: The Quarterly Productivity and Costs report is released with a delay of approximately two months after the end of each quarter.
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Citation
U.S. Federal Reserve, Quarterly Productivity and Costs (SWEPITGND01GYQ), retrieved from FRED.