Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Australia
CSHRCPAUA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.01
Year-over-Year Change
-168.81%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the share of residual trade and GDP statistical discrepancy for Australia, providing insights into the accuracy of the country's national accounts data.
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 residual trade and GDP statistical discrepancy is an indicator that reflects the difference between the expenditure and income approaches to measuring GDP. It serves as a gauge of the overall quality and coherence of Australia's national accounts data.
Methodology
The data is calculated by the Australian Bureau of Statistics as part of their national accounts reporting.
Historical Context
This metric is used by policymakers and analysts to assess the reliability of Australia's GDP and trade statistics.
Key Facts
- The share of residual trade and GDP statistical discrepancy for Australia is expressed as a percentage.
- A lower discrepancy indicates higher quality and more coherent national accounts data.
- The metric is published quarterly as part of Australia's national accounts reporting.
FAQs
Q: What does this economic trend measure?
A: This trend measures the difference between the expenditure and income approaches to calculating GDP in Australia, providing an indicator of the overall quality and coherence of the country's national accounts data.
Q: Why is this trend relevant for users or analysts?
A: The share of residual trade and GDP statistical discrepancy is an important metric for assessing the reliability of Australia's GDP and trade statistics, which are crucial for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the Australian Bureau of Statistics as part of their regular national accounts reporting.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge the overall quality and coherence of Australia's GDP and trade data, which informs decision-making and economic forecasting.
Q: Are there update delays or limitations?
A: The data is published quarterly as part of Australia's national accounts reporting, with the same update schedule and potential limitations as other GDP and trade statistics.
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Citation
U.S. Federal Reserve, Share of Residual Trade and GDP Statistical Discrepancy at Current Purchasing Power Parities for Australia (CSHRCPAUA156NRUG), retrieved from FRED.