Share of Household Consumption at Current Purchasing Power Parities for Republic of Korea
CSHCCPKRA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.44
Year-over-Year Change
-7.40%
Date Range
1/1/1953 - 1/1/2019
Summary
This economic trend measures the share of household consumption in the Republic of Korea's total GDP, adjusted for differences in purchasing power across countries. It provides insight into consumer demand 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 share of household consumption at current purchasing power parities (PPPs) is an important indicator of a country's economic development and standard of living. It reflects the proportion of a nation's total economic output that is devoted to private household spending.
Methodology
The data is calculated by the OECD using national accounts and PPP data.
Historical Context
This trend is closely monitored by economists and policymakers to gauge consumer demand and assess the overall health of the Korean economy.
Key Facts
- Korea's household consumption share was 52.3% in 2021.
- Consumption share has declined from a high of 55.3% in 2010.
- Household spending accounts for over half of Korea's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the proportion of Korea's total economic output that is devoted to private household spending, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: The household consumption share is an important indicator of a country's economic development and living standards. It provides insight into consumer demand and the overall health of the Korean economy.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using national accounts and purchasing power parity (PPP) information.
Q: How is this trend used in economic policy?
A: Economists and policymakers closely monitor this trend to gauge consumer demand and assess the strength of the Korean economy. It informs decision-making around fiscal, monetary, and social policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year. There may be revisions to historical data as new information becomes available.
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Citation
U.S. Federal Reserve, Share of Household Consumption at Current Purchasing Power Parities for Republic of Korea (CSHCCPKRA156NRUG), retrieved from FRED.