Nominal General Government Final Consumption Expenditure for Ireland
NCGGXDCIRA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,259,227,225.62
Year-over-Year Change
390.81%
Date Range
1/1/2012 - 1/1/2020
Summary
This economic trend measures the nominal value of general government final consumption expenditure in Ireland. It is an important indicator of government spending and fiscal policy.
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
General government final consumption expenditure is a key component of a country's gross domestic product (GDP). It represents the value of goods and services consumed by government for the benefit of the population.
Methodology
The data is collected and calculated by the Organisation for Economic Co-operation and Development (OECD).
Historical Context
This trend is used by economists and policymakers to analyze the size and role of the public sector in the Irish economy.
Key Facts
- General government final consumption expenditure accounted for 13.7% of Ireland's GDP in 2020.
- The trend has shown steady growth over the past decade, reflecting increased government spending.
- Ireland's government consumption expenditure is lower as a percentage of GDP compared to the OECD average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the nominal value of general government final consumption expenditure in Ireland. It represents the value of goods and services consumed by the government for the benefit of the population.
Q: Why is this trend relevant for users or analysts?
A: This trend is an important indicator of the size and role of the public sector in the Irish economy. It provides insights into government spending and fiscal policy, which are key factors in economic analysis and policymaking.
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: Economists and policymakers use this trend to analyze the government's contribution to economic activity and to assess the fiscal stance of the Irish government.
Q: Are there update delays or limitations?
A: The data is updated regularly by the OECD, but there may be some delay in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Nominal General Government Final Consumption Expenditure for Ireland (NCGGXDCIRA), retrieved from FRED.