Chainlink Brings US Economic Data Onchain in Historic Partnership

The US Commerce Department has partnered with Chainlink to publish key government economic statistics on public blockchains. This initiative brings data from the Bureau of Economic Analysis (BEA) to public blockchain networks for use by onchain applications.

The rollout covers six data feeds based on three major US economic indicators: real gross domestic product, the Personal Consumption Expenditures Price Index, and Real Final Sales to Private Domestic Purchasers. Each indicator comes in two formats, covering its level and annual rate of change.

The PCE Price Index serves as the Federal Reserve's preferred measure of inflation. Meanwhile, real GDP tracks inflation-adjusted economic output. Real Final Sales to Private Domestic Purchasers measures spending by private businesses and consumers.