National Accounts: GDP by Expenditure: Current Prices: Government Final Consumption Expenditure for Austria
AUTGFCEQDSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24,535,420,268.00
Year-over-Year Change
20.95%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic trend measures government final consumption expenditure in Austria, a key component of the country's gross domestic product (GDP). It provides insights into the role of government spending in the overall 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
Government final consumption expenditure represents the value of goods and services consumed by the government in its production activities. This indicator is used by economists and policymakers to analyze the size and composition of public sector activity and its impact on economic growth.
Methodology
The data is collected and calculated by the Austrian Statistical Office based on national accounts methodology.
Historical Context
This trend is relevant for understanding the fiscal and macroeconomic policies of the Austrian government.
Key Facts
- Government consumption accounts for over 18% of Austria's GDP.
- Austria's government consumption expenditure has grown by an average of 2.5% annually over the past decade.
- Public sector spending plays a key role in the Austrian economy's performance and stability.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of goods and services consumed by the government of Austria as part of its production activities, a key component of the country's GDP.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the size and composition of public sector activity in Austria, which is crucial for understanding the country's fiscal and macroeconomic policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Austrian Statistical Office based on national accounts methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to analyze the role of government spending in the Austrian economy and its impact on economic growth.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for minor delays in publication.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Current Prices: Government Final Consumption Expenditure for Austria (AUTGFCEQDSMEI), retrieved from FRED.