Nominal Final Consumption Expenditure for Australia
NCSAXDCAUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
519,433.00
Year-over-Year Change
22.75%
Date Range
7/1/1959 - 1/1/2025
Summary
The Nominal Final Consumption Expenditure for Australia measures the total value of goods and services consumed by households and government in the Australian economy. It is an important indicator of economic activity and consumer demand.
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
This quarterly economic series represents the total value of final consumption expenditure in Australia, including both household and government spending. It is a key component of Australia's gross domestic product (GDP) and is widely used by economists, policymakers, and analysts to assess the health and direction of the Australian economy.
Methodology
The data is collected and reported by the Australian Bureau of Statistics through household and government spending surveys.
Historical Context
Trends in final consumption expenditure provide insight into consumer and government behavior, which informs monetary and fiscal policy decisions.
Key Facts
- Australia's nominal final consumption expenditure was over $1.8 trillion in 2021.
- Household consumption accounts for approximately 55% of Australia's GDP.
- Final consumption expenditure has grown by an average of 4.5% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Nominal Final Consumption Expenditure for Australia measures the total value of goods and services consumed by households and the government in the Australian economy.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of economic activity and consumer demand in Australia, providing important insights for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected and reported by the Australian Bureau of Statistics through household and government spending surveys.
Q: How is this trend used in economic policy?
A: Trends in final consumption expenditure inform monetary and fiscal policy decisions, as they provide insights into consumer and government behavior.
Q: Are there update delays or limitations?
A: The data is released quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, Nominal Final Consumption Expenditure for Australia (NCSAXDCAUQ), retrieved from FRED.