Share of Government Consumption at Current Purchasing Power Parities for Iceland
CSHGCPISA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.24
Year-over-Year Change
14.76%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Share of Government Consumption at Current Purchasing Power Parities for Iceland' measures the proportion of Iceland's total consumption expenditure that is attributable to government spending. This indicator is important for economists and policymakers to assess the role of the public sector in the Icelandic economy.
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
This economic trend represents the government's share of total consumption in Iceland, adjusted for differences in purchasing power between countries. It is a key indicator of the size and involvement of the public sector in the national economy, which has implications for fiscal policy, economic structure, and standards of living.
Methodology
The data is calculated by the OECD based on national accounts statistics.
Historical Context
Policymakers and analysts use this metric to benchmark Iceland's public sector size relative to other developed economies.
Key Facts
- Iceland's government consumption share was 23.7% in 2021.
- This is higher than the OECD average of 20.1% in 2021.
- The metric has remained relatively stable in Iceland over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the proportion of Iceland's total consumption expenditure that is attributable to government spending, adjusted for differences in purchasing power between countries.
Q: Why is this trend relevant for users or analysts?
A: This indicator is important for assessing the role of the public sector in the Icelandic economy and has implications for fiscal policy, economic structure, and standards of living.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD based on national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to benchmark Iceland's public sector size relative to other developed economies.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and revisions of the OECD's national accounts statistics.
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Citation
U.S. Federal Reserve, Share of Government Consumption at Current Purchasing Power Parities for Iceland (CSHGCPISA156NRUG), retrieved from FRED.