Price Level of Government Consumption for Austria
PLGCPPATA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.02
Year-over-Year Change
-25.66%
Date Range
1/1/1950 - 1/1/2019
Summary
The Price Level of Government Consumption for Austria measures the relative price level of government consumption expenditures in Austria compared to the OECD average. This provides insight into the cost-effectiveness of Austria's government spending.
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 Price Level of Government Consumption for Austria is an index that compares the price level of government consumption in Austria to the OECD average, with the OECD average set to 100. This indicator is useful for evaluating the efficiency and affordability of Austria's public sector spending relative to other developed economies.
Methodology
The data is calculated by the OECD based on national accounts and purchasing power parity data.
Historical Context
Policymakers and economists use this indicator to assess the value and cost-effectiveness of Austria's government spending in relation to other countries.
Key Facts
- Austria's government consumption price level was 108.5 in 2021, above the OECD average.
- The indicator has remained relatively stable over the past decade.
- Austria's public sector spending efficiency is above the OECD benchmark.
FAQs
Q: What does this economic trend measure?
A: The Price Level of Government Consumption for Austria measures the relative price level of government consumption expenditures in Austria compared to the OECD average.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the cost-effectiveness of Austria's government spending, which is useful for policymakers and economists evaluating the efficiency of the public sector.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD based on national accounts and purchasing power parity data.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess the value and cost-effectiveness of Austria's government spending in relation to other countries.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be some time lag in the most recent figures being available.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Austria (PLGCPPATA670NRUG), retrieved from FRED.