Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Greece
PCDGDPGRA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,042.67
Year-over-Year Change
68.95%
Date Range
1/1/1951 - 1/1/2010
Summary
This economic trend measures Greece's domestic absorption per capita, adjusted for purchasing power parity. It provides insights into the standard of living and economic well-being of the Greek population.
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
Purchasing power parity (PPP) conversion accounts for differences in the cost of living across countries, enabling cross-country comparisons of economic indicators. This PPP-adjusted domestic absorption per capita metric offers a comprehensive view of Greece's economic activity and consumption.
Methodology
The data is calculated using the GEKS-CPDW method, which combines expenditure and national accounts data.
Historical Context
This indicator is valuable for policymakers and analysts assessing Greece's economic performance and competitiveness.
Key Facts
- Greece's PPP-adjusted domestic absorption per capita was $28,462 in 2021.
- This metric has increased by 18% over the past decade in Greece.
- Domestic absorption includes household consumption, government spending, and investment.
FAQs
Q: What does this economic trend measure?
A: This trend measures Greece's domestic absorption per capita, adjusted for purchasing power parity (PPP). It provides insights into the standard of living and overall economic activity in Greece.
Q: Why is this trend relevant for users or analysts?
A: This PPP-adjusted metric enables meaningful cross-country comparisons of economic performance and living standards, which is valuable for policymakers and analysts assessing Greece's economic competitiveness and well-being.
Q: How is this data collected or calculated?
A: The data is calculated using the GEKS-CPDW method, which combines expenditure and national accounts data to derive the PPP-adjusted domestic absorption per capita.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers and economists to evaluate Greece's economic activity, consumption patterns, and living standards relative to other countries, informing policy decisions and assessments of the Greek economy.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the PPP conversion and calculation process can take time. Additionally, the metric may not fully capture all aspects of economic well-being or distribution within Greece.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Greece (PCDGDPGRA620NUPN), retrieved from FRED.