Gross Domestic Product by Expenditure in Constant Prices: Private Final Consumption Expenditure for the European Union
NAEXKP02EUQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,947,228,418,494.80
Year-over-Year Change
5.07%
Date Range
1/1/1995 - 10/1/2019
Summary
This economic trend measures private consumption expenditure in the European Union, a key component of gross domestic product (GDP). It provides valuable insights into consumer demand and spending patterns within the EU 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
The Gross Domestic Product by Expenditure in Constant Prices: Private Final Consumption Expenditure for the European Union tracks households' final consumption of goods and services in the EU. This metric is closely monitored by economists and policymakers as it reflects the overall health and trajectory of the European economy.
Methodology
The data is collected and calculated by Eurostat, the statistical office of the European Union.
Historical Context
This trend is used to inform economic policy decisions and assess the performance of the EU market.
Key Facts
- The EU's private consumption expenditure accounts for over 55% of its GDP.
- This trend has shown steady growth since the global financial crisis of 2008-2009.
- Consumer spending is a key driver of economic activity in the European Union.
FAQs
Q: What does this economic trend measure?
A: This trend measures private final consumption expenditure, which includes households' spending on goods and services in the European Union.
Q: Why is this trend relevant for users or analysts?
A: Private consumption is a critical component of GDP and a key indicator of the overall health and direction of the European economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and market analysts to assess consumer demand, inform fiscal and monetary policies, and evaluate the performance of the EU economy.
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 complete information becomes available.
Related Trends
Consumer Price Index: Food and non-Alcoholic beverages (COICOP 01): Total: Total for European Union (28 countries)
EU28CP010000GYM
Activity Rate: Aged 15-74: All Persons for the European Union
LRAC74TTEUA156N
Harmonized Index of Consumer Prices: Oils and Fats for European Union (28 Countries)
CP0115EU28M086NEST
Harmonized Index of Consumer Prices: Beer for European Union
CP0213EUCCM086NEST
Harmonized Index of Consumer Prices: Housing, Water, Electricity, Gas and Other Fuels for Euro Area (19 Countries)
CP0400EZ19M086NEST
Harmonized Index of Consumer Prices: All Items Excluding Mainly Administered Prices for Euro Area (19 Countries)
00XAPMEZ19M086NEST
Citation
U.S. Federal Reserve, Gross Domestic Product by Expenditure in Constant Prices: Private Final Consumption Expenditure for the European Union (NAEXKP02EUQ189S), retrieved from FRED.