Share of Household Consumption at Current Purchasing Power Parities for New Zealand
CSHCCPNZA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.59
Year-over-Year Change
-2.48%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the share of household consumption in New Zealand's economy based on current purchasing power parities. It provides insights into consumer spending patterns and helps analyze economic growth and living standards.
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
The share of household consumption at current purchasing power parities represents the percentage of a country's gross domestic product that is attributed to household final consumption expenditure. This metric is useful for cross-country comparisons of consumer spending and can inform macroeconomic policy decisions.
Methodology
The data is calculated by the World Bank using household survey data and national accounts information.
Historical Context
Policymakers and economists use this trend to evaluate consumer demand, household savings, and the overall state of the economy.
Key Facts
- New Zealand's household consumption share was 57.7% in 2021.
- The trend has fluctuated between 55-60% over the past decade.
- Household consumption accounts for a larger share of GDP in New Zealand compared to many OECD countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the percentage of New Zealand's gross domestic product that is attributed to household final consumption expenditure, adjusted for purchasing power parity.
Q: Why is this trend relevant for users or analysts?
A: The share of household consumption is an important indicator of consumer demand and living standards, which are crucial for evaluating economic growth and guiding policymaking.
Q: How is this data collected or calculated?
A: The World Bank calculates this metric using household survey data and national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this trend to understand consumer spending patterns, household savings, and the overall state of the New Zealand economy, which informs macroeconomic policies.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, with a potential delay of 1-2 years. The metric may be influenced by factors like exchange rate fluctuations and survey methodologies.
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Citation
U.S. Federal Reserve, Share of Household Consumption at Current Purchasing Power Parities for New Zealand (CSHCCPNZA156NRUG), retrieved from FRED.