Balance of Payments: Current Account: Balance (Revenue Minus Expenditure) for OECD
Percentage of GDP, Seasonally Adjusted
OECDB6BLTT02STSAQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.34
Year-over-Year Change
-9.05%
Date Range
1/1/2005 - 10/1/2024
Summary
This economic indicator measures the percentage of gross domestic product (GDP) attributable to general government total outlays, seasonally adjusted. It is a key metric for analyzing the size and scope of government spending within a national 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
General government total outlays as a percentage of GDP provides insight into the role and relative importance of the public sector in a country's economic activity. Economists and policymakers use this data to assess fiscal policy, budget sustainability, and the government's influence on the broader economy.
Methodology
The data is collected and calculated by the Organisation for Economic Co-operation and Development (OECD) based on national accounts data.
Historical Context
This indicator is widely referenced by economic analysts, government officials, and international institutions when evaluating macroeconomic trends and the public sector's economic footprint.
Key Facts
- General government total outlays include spending on public services, social benefits, and capital investment.
- The U.S. government outlays-to-GDP ratio has ranged between 35-40% over the past decade.
- High government spending relative to GDP can indicate an expansionary fiscal policy stance.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the percentage of gross domestic product (GDP) accounted for by total government outlays, including spending on public services, social benefits, and capital investment.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and role of the public sector within a national economy, which is a key consideration for economic analysts and policymakers when assessing fiscal sustainability, the government's economic influence, and the overall size of the state relative to the private sector.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the OECD based on national accounts data for general government total outlays and GDP.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this indicator to evaluate the scale of government involvement in the economy, assess fiscal policy stances, and analyze the public sector's impact on macroeconomic performance and growth.
Q: Are there update delays or limitations?
A: This OECD data series is updated on a quarterly basis, with a potential delay of several months before the latest figures become available.
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Citation
U.S. Federal Reserve, Percentage of GDP, Seasonally Adjusted (OECDB6BLTT02STSAQ), retrieved from FRED.