National Accounts: GDP by Expenditure: Current Prices: Private Final Consumption Expenditure for Luxembourg
LUXPFCEQDSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,445,937,000.00
Year-over-Year Change
24.27%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic trend measures private final consumption expenditure in Luxembourg, a key component of the country's gross domestic product (GDP) at current prices.
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
Private final consumption expenditure represents the total value of goods and services purchased by households in Luxembourg. It is a crucial indicator of domestic demand and consumer confidence within the economy.
Methodology
The data is collected and calculated by the Organisation for Economic Co-operation and Development (OECD).
Historical Context
Policymakers and analysts monitor this trend to assess the strength of Luxembourg's consumer-driven economic growth.
Key Facts
- Luxembourg's private consumption expenditure totaled €24.7 billion in 2021.
- It accounts for over 40% of Luxembourg's total GDP.
- Consumer spending in Luxembourg has grown steadily in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services purchased by households in Luxembourg, a key component of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: Private consumption expenditure is a crucial indicator of domestic demand and consumer confidence within the Luxembourg economy, making it highly relevant for policymakers and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Organisation for Economic Co-operation and Development (OECD).
Q: How is this trend used in economic policy?
A: Policymakers and analysts monitor this trend to assess the strength of Luxembourg's consumer-driven economic growth and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Current Prices: Private Final Consumption Expenditure for Luxembourg (LUXPFCEQDSMEI), retrieved from FRED.