Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Austria
PCDGDPATA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,646.20
Year-over-Year Change
51.25%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the average purchasing power of individuals in Austria, based on domestic absorption per capita. It provides insights into the country's economic development and living standards.
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 Purchasing Power Parity Converted Domestic Absorption Per Capita metric represents the average value of goods and services consumed by each person in Austria, adjusted for differences in purchasing power across countries. It is a key indicator used by economists and policymakers to assess the overall economic well-being of the Austrian population.
Methodology
The data is calculated by the OECD using a multilateral approach called the GEKS-CPDW method, which accounts for international price and volume differences.
Historical Context
This trend is widely used to compare living standards and make informed policy decisions related to economic growth, development, and distribution.
Key Facts
- Austria's Purchasing Power Parity Converted Domestic Absorption Per Capita was $47,590 in 2021.
- This metric has grown by an average of 1.5% per year over the past decade.
- Austria ranks among the top 15 countries globally in terms of this economic indicator.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average purchasing power of individuals in Austria, based on domestic absorption per capita. It provides insights into the country's overall economic development and living standards.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to compare living standards and make informed decisions related to economic growth, development, and distribution.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using a multilateral approach called the GEKS-CPDW method, which accounts for international price and volume differences.
Q: How is this trend used in economic policy?
A: This indicator is used by institutions, markets, and economists to assess the overall economic well-being of the Austrian population and make informed policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of the underlying OECD sources, which may result in occasional update delays.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Austria (PCDGDPATA620NUPN), retrieved from FRED.