National Accounts: Real Gross Domestic Product for Australia
AUSNGDPRPCPPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.35
Year-over-Year Change
-2.87%
Date Range
1/1/1990 - 1/1/2029
Summary
The National Accounts: Real Gross Domestic Product for Australia measures the total value of goods and services produced in the Australian economy, adjusted for inflation. This key economic indicator provides insights into the overall health and growth of the Australian economy.
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
Real GDP is a comprehensive measure of economic activity that accounts for changes in prices, allowing for accurate comparison over time. It is a crucial metric used by policymakers, analysts, and investors to assess Australia's economic performance and make informed decisions.
Methodology
The Australian Bureau of Statistics compiles this data from surveys and administrative records to calculate a volume index of GDP.
Historical Context
Policymakers and central banks closely monitor real GDP growth to guide monetary and fiscal policies that support stable, sustainable economic expansion.
Key Facts
- Australia's real GDP grew by 3.1% in 2021.
- Real GDP per capita in Australia was $53,758 in 2021.
- The services sector accounts for over 60% of Australia's real GDP.
FAQs
Q: What does this economic trend measure?
A: The National Accounts: Real Gross Domestic Product for Australia measures the total volume of goods and services produced in the Australian economy, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a key indicator of a country's economic health and growth, providing important insights for policymakers, businesses, and investors.
Q: How is this data collected or calculated?
A: The Australian Bureau of Statistics compiles this data from surveys and administrative records to calculate a volume index of GDP.
Q: How is this trend used in economic policy?
A: Policymakers and central banks closely monitor real GDP growth to guide monetary and fiscal policies that support stable, sustainable economic expansion.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a lag of several weeks.
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Citation
U.S. Federal Reserve, National Accounts: Real Gross Domestic Product for Australia (AUSNGDPRPCPPPT), retrieved from FRED.