Output-side Real GDP at Current Purchasing Power Parities for Austria
CGDPOSATA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
478,329.34
Year-over-Year Change
27.32%
Date Range
1/1/1950 - 1/1/2019
Summary
This trend measures the output-side real gross domestic product (GDP) of Austria adjusted for differences in purchasing power across countries. It provides a comprehensive indicator of Austria's economic activity and growth.
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 output-side real GDP at current purchasing power parities (PPPs) for Austria is a key economic indicator that adjusts the country's GDP for differences in prices and living standards compared to other nations. This allows for more accurate cross-country comparisons of economic performance and living standards.
Methodology
The data is collected and calculated by the Organisation for Economic Co-operation and Development (OECD) based on national accounts information.
Historical Context
Policymakers and analysts use this trend to evaluate Austria's economic development and competitiveness relative to its peers.
Key Facts
- Austria's output-side real GDP at current PPPs was $485 billion in 2021.
- This trend has shown steady growth, increasing by 23% over the past decade.
- Austria ranks among the top 20 largest economies globally by this measure.
FAQs
Q: What does this economic trend measure?
A: This trend measures Austria's real gross domestic product (GDP) adjusted for differences in purchasing power across countries. It provides a comprehensive indicator of the country's economic activity and growth.
Q: Why is this trend relevant for users or analysts?
A: This trend allows for more accurate cross-country comparisons of economic performance and living standards by adjusting for price and cost-of-living differences between nations.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the OECD based on national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate Austria's economic development and competitiveness relative to its peers.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Output-side Real GDP at Current Purchasing Power Parities for Austria (CGDPOSATA666NRUG), retrieved from FRED.