Share of Household Consumption at Current Purchasing Power Parities for Norway
CSHCCPNOA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.37
Year-over-Year Change
16.01%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the share of household consumption in Norway's gross domestic product (GDP) based on current purchasing power parities (PPPs). It is an important indicator of a country's economic structure and consumer spending patterns.
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 PPPs represents the percentage of Norway's GDP that is attributed to household final consumption expenditure. This metric is useful for analyzing consumer demand, living standards, and the relative importance of the household sector in the Norwegian economy.
Methodology
The data is calculated by the OECD using national accounts and PPP information.
Historical Context
Policymakers and economists use this indicator to assess Norway's economic performance and household consumption trends.
Key Facts
- Norway's household consumption share was 53.3% in 2021.
- The consumption share has remained relatively stable over the past decade.
- Norway has one of the highest household consumption shares among OECD countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the share of household final consumption expenditure in Norway's gross domestic product based on current purchasing power parities.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insight into the importance of household consumption in the Norwegian economy and can be used to analyze consumer demand, living standards, and economic structure.
Q: How is this data collected or calculated?
A: The OECD calculates this metric using national accounts data and purchasing power parity information.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess Norway's economic performance and household consumption patterns, which can inform policy decisions.
Q: Are there update delays or limitations?
A: The data is updated annually by the OECD, and there may be some time lag in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Share of Household Consumption at Current Purchasing Power Parities for Norway (CSHCCPNOA156NRUG), retrieved from FRED.