National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for the Euro Area (19 Countries)
NAEXKP02EZQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,326,680,395,870.00
Year-over-Year Change
3.68%
Date Range
1/1/1995 - 1/1/2023
Summary
This economic trend measures private consumption expenditure in the Euro Area, a key component of Gross Domestic Product (GDP). It provides insights into consumer demand and household spending, which are important indicators of economic growth and recovery.
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 National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for the Euro Area (19 Countries) represents the total value of goods and services purchased by households within the Eurozone. It is a widely tracked metric that reflects consumer confidence and spending patterns, two crucial drivers of overall economic performance.
Methodology
The data is collected and calculated by Eurostat, the statistical office of the European Union.
Historical Context
This trend is closely monitored by policymakers, central banks, and market analysts to gauge the health of the Eurozone economy.
Key Facts
- Private consumption accounts for over 50% of Eurozone GDP.
- Consumer spending has a direct impact on economic growth and inflation.
- The trend experienced a sharp decline during the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services purchased by households within the Eurozone, a key component of Gross Domestic Product (GDP).
Q: Why is this trend relevant for users or analysts?
A: Private consumption expenditure is a crucial indicator of consumer demand and household spending, which are important drivers of overall economic growth and recovery.
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 closely monitored by policymakers, central banks, and market analysts to gauge the health of the Eurozone economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for the Euro Area (19 Countries) (NAEXKP02EZQ189S), retrieved from FRED.