National Accounts: GDP by Expenditure: Current Prices: Government Final Consumption Expenditure for Australia
AUSGFCEQDSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
143,488,000,000.00
Year-over-Year Change
25.20%
Date Range
1/1/1960 - 7/1/2023
Summary
This economic trend measures the government's final consumption expenditure in Australia at current prices. It is a key component of Gross Domestic Product (GDP) and reflects the spending by government on goods and services.
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
Government final consumption expenditure represents the value of goods and services consumed by government to directly satisfy the individual and collective needs of the community. It is an important indicator of the size and role of the public sector in the Australian economy.
Methodology
The data is collected and calculated by the Australian Bureau of Statistics.
Historical Context
This trend is used by policymakers, economists, and analysts to assess the contribution of government spending to overall economic activity.
Key Facts
- Government final consumption expenditure accounted for 18% of Australia's GDP in 2021.
- Australia's government spending rose by 3.2% in real terms in 2021.
- The public sector represents a significant portion of the Australian economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of goods and services consumed by the government in Australia to directly satisfy the needs of the community.
Q: Why is this trend relevant for users or analysts?
A: Government spending is a key component of GDP and an important indicator of the size and role of the public sector in the Australian economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and analysts use this trend to assess the contribution of government spending to overall economic activity and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the Australian Bureau of Statistics, with occasional revisions to account for updated information.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Current Prices: Government Final Consumption Expenditure for Australia (AUSGFCEQDSMEI), retrieved from FRED.