National Accounts: GDP by Expenditure: Current Prices: Private Final Consumption Expenditure for Australia
NAEXCP02AUQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
328,912,000,000.00
Year-over-Year Change
31.29%
Date Range
1/1/1960 - 7/1/2023
Summary
This economic indicator measures the total value of goods and services consumed by Australian households. It is a key component of Gross Domestic Product (GDP) and a crucial gauge of consumer demand and economic activity.
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
Private Final Consumption Expenditure (PFCE) represents the money spent by Australian residents on final consumption of goods and services. It is a vital indicator for economists and policymakers to assess the health and direction of the Australian economy.
Methodology
The data is collected by the Australian Bureau of Statistics through household surveys and national accounts data.
Historical Context
PFCE is used by the Reserve Bank of Australia and other institutions to inform economic and monetary policy decisions.
Key Facts
- PFCE accounts for over 50% of Australia's GDP.
- PFCE has grown by an average of 2.5% annually over the past decade.
- Rapid changes in PFCE can signal shifts in consumer confidence and economic momentum.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total value of goods and services consumed by Australian households, which is a key component of the country's Gross Domestic Product (GDP).
Q: Why is this trend relevant for users or analysts?
A: PFCE is a crucial gauge of consumer demand and economic activity in Australia. It provides valuable insights into the health and direction of the Australian economy for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected by the Australian Bureau of Statistics through household surveys and national accounts data.
Q: How is this trend used in economic policy?
A: The Reserve Bank of Australia and other institutions use PFCE data to inform economic and monetary policy decisions, as it reflects the strength of consumer spending and overall economic conditions.
Q: Are there update delays or limitations?
A: The PFCE data is published quarterly by the Australian Bureau of Statistics, with a typical delay of 2-3 months from the end of the reporting period.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Current Prices: Private Final Consumption Expenditure for Australia (NAEXCP02AUQ189S), retrieved from FRED.