Friday, September 20, 2024

From FRED: Real Gross Domestic Product per Capita 1947 - 2024







What is FRED?

The Federal Reserve Bank of St. Louis.


What is the Federal Reserve

. . . the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises.


What it the real gross domestic product?

. . . is an inflation-adjusted measure that reflects the value of all goods and services produced by an economy in a given year. Real GDP is expressed in base-year prices. It is often referred to as constant-price GDP, inflation-corrected GDP, or constant-dollar GDP. Put simply, real GDP measures the total economic output of a country and is adjusted for changes in price.

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