National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for Luxembourg
NAEXKP02LUQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,358,171,000.00
Year-over-Year Change
11.76%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic trend measures private final consumption expenditure in Luxembourg, a key component of the country's gross domestic product (GDP). It provides insights into the health and growth of the Luxembourg 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
Private final consumption expenditure represents the value of goods and services purchased by households in Luxembourg. This metric is an important indicator of domestic demand and consumer confidence, and is widely used by economists and policymakers to assess the state of the national economy.
Methodology
The data is collected by Luxembourg's national statistical agency and calculated according to international standards for national accounts.
Historical Context
This GDP expenditure data informs economic policy decisions and is closely monitored by financial markets.
Key Facts
- Luxembourg's private consumption accounts for over 40% of its GDP.
- Private consumption grew by 2.5% in 2021 as the economy rebounded.
- Household spending is a key driver of Luxembourg's service-oriented economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures private final consumption expenditure, which represents the value of goods and services purchased by households in Luxembourg.
Q: Why is this trend relevant for users or analysts?
A: Private consumption is a crucial component of GDP and an important indicator of domestic demand and consumer confidence in the Luxembourg economy.
Q: How is this data collected or calculated?
A: The data is collected by Luxembourg's national statistical agency and calculated according to international standards for national accounts.
Q: How is this trend used in economic policy?
A: This GDP expenditure data informs economic policy decisions and is closely monitored by financial markets to assess the state of the Luxembourg economy.
Q: Are there update delays or limitations?
A: The data is published quarterly with a delay of approximately 3 months.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Private Final Consumption Expenditure for Luxembourg (NAEXKP02LUQ189S), retrieved from FRED.