National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for Hungary
NAEXKP02HUQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,632,818,000,000.00
Year-over-Year Change
9.43%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic trend measures Hungary's private final consumption expenditure (PFCE) at constant prices, a key component of the country's gross domestic product (GDP) by expenditure approach.
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
PFCE represents the total value of goods and services purchased by Hungarian households. It is a crucial indicator of domestic demand and consumer spending, which economists and policymakers analyze to assess the overall health of the Hungarian economy.
Methodology
The data is collected and calculated by the Hungarian Central Statistical Office using household surveys and national accounts.
Historical Context
Policymakers and analysts use this PFCE trend to inform fiscal and monetary policies that can stimulate or stabilize consumer demand.
Key Facts
- PFCE accounts for over 50% of Hungary's GDP.
- PFCE grew by 4.5% in 2021 after declining in 2020 due to the COVID-19 pandemic.
- Household spending on durable goods like cars and appliances is a key driver of PFCE changes.
FAQs
Q: What does this economic trend measure?
A: This trend measures Hungary's private final consumption expenditure (PFCE) at constant prices, which represents household spending on goods and services.
Q: Why is this trend relevant for users or analysts?
A: PFCE is a crucial indicator of domestic demand and consumer spending in Hungary, which economists and policymakers analyze to assess the overall health of the Hungarian economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Hungarian Central Statistical Office using household surveys and national accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this PFCE trend to inform fiscal and monetary policies that can stimulate or stabilize consumer demand in Hungary.
Q: Are there update delays or limitations?
A: The PFCE data is typically published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for Hungary (NAEXKP02HUQ189S), retrieved from FRED.