Economy at a Glance

Economy at a Glance features eight charts with key economic indicators that provide a snapshot of the U.S. economy. The graphs are powered by FRED®, the St. Louis Fed’s signature economic database. U.S. recessions are shaded.

Real Gross Domestic Product

Gross domestic product (GDP) is the total market value of the final goods and services produced within the U.S. Real values are inflation-adjusted estimates—that is, they are estimates that exclude the effects of price changes.

Real Personal Consumption Expenditures

Personal consumption expenditures (PCE) is the primary measure of consumer spending on goods and services in the U.S. economy. It accounts for about two-thirds of domestic final spending.

Consumer Price Index and Personal Consumption Expenditures Price Index

The consumer price index (CPI) for all urban consumers tracks prices that consumers in U.S. cities pay for a basket of goods and services. The personal consumption expenditures (PCE) price index tracks prices that people living in the U.S., or those buying on their behalf, pay for goods and services. The Federal Reserve’s preferred measure of inflation is based on the PCE price index. The two indexes, which have their own purposes and uses, are constructed differently, resulting in different inflation rates.

Nonfarm Payroll Employment

Total nonfarm payroll is a measure of the number of U.S. workers in the economy that excludes proprietors, private household employees, unpaid volunteers, farm employees and the unincorporated self-employed. It accounts for approximately 80% of the workers who contribute to the nation’s GDP.

Unemployment Rate

The unemployment rate represents the number of unemployed workers as a percentage of the labor force. Labor force data are restricted to those 16 and older who reside in one of the 50 U.S. states or Washington, D.C., who do not reside in institutions, and who are not on active duty in the U.S. armed forces.

Housing Starts

As provided by the U.S. Census Bureau, a housing start occurs when excavation begins for the footings or foundation of a building. All housing units in a multifamily building are defined as being started when this excavation begins.

10-Year U.S. Treasury Rate

A 10-year yield is estimated from the average yields of various actively traded U.S. Treasury securities with different maturities derived from the non-inflation-indexed Treasury yield curve.

St. Louis Fed Financial Stress Index

The index measures the degree of financial stress in the markets and is constructed from 18 weekly data series. Zero is viewed as representing normal financial market conditions. Values below zero suggest below-average financial market stress, while values above zero suggest above-average financial market stress.

Additional Resources

• Federal Open Market Committee (FOMC) Summary of Economic Projections
• Regional Economic Data: Housing, population, employment and other data for states and metropolitan statistical areas in the Fed’s Eighth District
• Eighth District Beige Book: A summary of current economic conditions based on anecdotal information and reports gathered by the St. Louis Fed from key contacts in the region