Real General Government Final Consumption Expenditure for Ireland
NCGGRXDCIRA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,141,394,105.50
Year-over-Year Change
2.10%
Date Range
1/1/2012 - 1/1/2020
Summary
This economic trend measures the real value of general government final consumption expenditure in Ireland. It is an important indicator of government spending and economic activity.
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 Real General Government Final Consumption Expenditure for Ireland represents the inflation-adjusted spending by the Irish government on goods and services. It is a key component of gross domestic product (GDP) and provides insight into the fiscal policy stance and public sector contribution to the economy.
Methodology
The data is calculated by the Irish Central Statistics Office based on surveys and administrative records.
Historical Context
This indicator is closely monitored by policymakers, analysts, and international institutions to assess the health of the Irish economy.
Key Facts
- Ireland's real government consumption expenditure was €93.4 billion in 2021.
- It accounts for approximately 18% of Ireland's GDP.
- Real government consumption grew by 2.3% in 2021 compared to the previous year.
FAQs
Q: What does this economic trend measure?
A: This trend measures the inflation-adjusted value of final consumption expenditure by the general government in Ireland. It includes spending on goods and services provided to the public.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for assessing the fiscal policy stance and the public sector's contribution to economic activity in Ireland.
Q: How is this data collected or calculated?
A: The data is calculated by the Irish Central Statistics Office based on surveys and administrative records.
Q: How is this trend used in economic policy?
A: Policymakers, analysts, and international institutions closely monitor this indicator to evaluate the health of the Irish economy and the government's fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 3 months.
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Citation
U.S. Federal Reserve, Real General Government Final Consumption Expenditure for Ireland (NCGGRXDCIRA), retrieved from FRED.