Purchasing Power Parity over GDP for Austria
PPPTTLATA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.82
Year-over-Year Change
-6.75%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Austria measures the ratio of a country's purchasing power parity to its nominal GDP. This indicator provides insights into a nation's standard of living and economic competitiveness.
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) is an economic theory that estimates the relative value of currencies based on their purchasing power within their respective domestic markets. The PPP over GDP ratio compares this PPP value to Austria's nominal GDP, offering a nuanced perspective on the country's economic performance.
Methodology
The data is calculated by the World Bank using price surveys and national accounts data.
Historical Context
Policymakers and analysts utilize this metric to assess Austria's economic development and international trade competitiveness.
Key Facts
- Austria's PPP over GDP ratio was 0.90 in 2021.
- The ratio has remained relatively stable over the past decade.
- A higher ratio indicates Austria's goods and services are more affordable compared to other countries.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Austria measures the ratio of the country's purchasing power parity to its nominal GDP, providing insights into its standard of living and economic competitiveness.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for understanding Austria's economic development and international trade competitiveness, as it offers a nuanced perspective on the country's purchasing power and cost of living compared to its nominal GDP.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts utilize this metric to assess Austria's economic performance and international trade competitiveness, which can inform economic policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the update schedule and methodological limitations of the World Bank's Purchasing Power Parity program.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Austria (PPPTTLATA618NUPN), retrieved from FRED.