National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for Czech Republic
NAEXKP02CZQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
581,328,000,000.00
Year-over-Year Change
-1.84%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic trend measures private final consumption expenditure in the Czech Republic, a key component of Gross Domestic Product (GDP). It provides insights into consumer spending and the overall health of the Czech 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
Private final consumption expenditure represents the monetary value of all goods and services purchased by households. This metric is widely used by economists and policymakers to analyze consumer demand, inflation, and economic growth trends.
Methodology
The data is collected and calculated by the Czech Statistical Office based on national accounts data.
Historical Context
Tracking changes in private consumption expenditure helps inform monetary and fiscal policies aimed at supporting economic stability and growth.
Key Facts
- Private consumption accounts for over 50% of Czech GDP.
- Consumption expenditure has grown by an average of 2.5% annually since 2015.
- The COVID-19 pandemic caused a 5.8% decline in private consumption in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures private final consumption expenditure in the Czech Republic, which represents the monetary value of all goods and services purchased by households.
Q: Why is this trend relevant for users or analysts?
A: Private consumption is a key component of GDP and a important indicator of consumer demand, inflation, and overall economic health. Tracking this metric helps inform economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Czech Statistical Office based on national accounts data.
Q: How is this trend used in economic policy?
A: Changes in private consumption expenditure help guide monetary and fiscal policies aimed at supporting economic stability and growth.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical 2-3 month 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: Constant Prices: Private Final Consumption Expenditure for Czech Republic (NAEXKP02CZQ189S), retrieved from FRED.