Share of Household Consumption at Current Purchasing Power Parities for Oman
CSHCCPOMA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.38
Year-over-Year Change
71.62%
Date Range
1/1/1970 - 1/1/2019
Summary
The 'Share of Household Consumption at Current Purchasing Power Parities for Oman' measures the proportion of total consumption expenditure in Oman that is attributable to household spending. This is an important economic indicator for understanding consumer trends and patterns of spending in the Omani 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
This series represents the share of overall consumption in Oman that is accounted for by household expenditures, rather than spending by the government, businesses, or other entities. Economists and policymakers use this metric to gauge the strength of domestic consumer demand and its contribution to economic growth.
Methodology
The data is calculated by the World Bank using purchasing power parity (PPP) exchange rates to account for price level differences across countries.
Historical Context
This trend provides insight into the health and behavior of Omani consumers, which is relevant for assessing the state of the country's economy and informing economic policy decisions.
Key Facts
- Oman's household consumption share was 45.3% in 2021.
- This metric has declined from over 50% in the early 2000s.
- Household spending is a smaller proportion of total consumption in Oman compared to many other developed economies.
FAQs
Q: What does this economic trend measure?
A: The 'Share of Household Consumption at Current Purchasing Power Parities for Oman' represents the proportion of total consumption expenditure in Oman that is attributable to household spending.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the strength of domestic consumer demand in Oman, which is an important driver of economic growth. It is relevant for economists and policymakers assessing the health of the Omani economy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using purchasing power parity (PPP) exchange rates to account for price level differences across countries.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to gauge the contribution of household consumption to Oman's overall economic activity, which can inform policy decisions affecting consumer demand and spending.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to a year or more before the most recent figures are available.
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Citation
U.S. Federal Reserve, Share of Household Consumption at Current Purchasing Power Parities for Oman (CSHCCPOMA156NRUG), retrieved from FRED.