Real GDP Per Capita, Total US
Why Use This Data Source In Your Models?
Real GDP per capita describes the economic output of the entire US in each quarter divided by the number of persons in the US. This is indicative of recessions, wages, & the employment situation.
Real GDP Per Capita, Total US
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Automated Data Profiling
Suggested Treatment:
Grain Transformation:
Source:
U.S. Bureau of Economic Analysis
Release:
Gross Domestic Product
Units:
Chained 2012 Dollars, Seasonally Adjusted Annual Rate
Frequency:
Quarterly
Available Through:
09/30/2024
Suggested Treatment:
The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Untransformed transformation, provides the best normality, the Square Root variable will also perform well.
Grain Transformation:
The roll up method used is Weighted Average.
Auto Correlation Analysis:
Data shows auto correlation indicating a need for differencing
The ACF indicates 1 order differencing is appropriate.
Following first order differencing, no further differencing is required based on the differenced ACF at lag one of -0.28
Trend Analysis:
The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 0.08 p-value = 0.10 indicates that the data is stationary.
Distribution Analysis:
The Shapiro-Wilk test returned W = 0.95 with a p-value =0.05 indicating the data does not follow a normal distribution.
A skewness score of 0.03 indicates the data are fairly symmetrical.
Hartigan's dip test score of 0.05 with a p-value of 0.43 inidcates the data is unimodal
Statistics (Pearson P/ df, lower => more normal)
Auto Correlation Function
Auto Correlation Function After Differencing
Partial Auto Correlation Function
Seasonal Impact
Seasonal and Trend Decompostion
Citation:
U.S. Bureau of Economic Analysis, Real gross domestic product per capita [A939RX0Q048SBEA], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/A939RX0Q048SBEA, December 19, 2019.
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