National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Austria
NAEXKP03ATQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,444,681,214.00
Year-over-Year Change
8.81%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic trend measures government final consumption expenditure in Austria, adjusted for inflation. It provides insights into the role of government spending in the country's economic performance.
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
Government final consumption expenditure is a key component of a nation's gross domestic product (GDP), representing the value of goods and services consumed by the public sector. This data series allows economists to analyze the relative importance of government spending and its impact on the broader economy.
Methodology
The data is collected and calculated by the Austrian statistical agency based on national accounts.
Historical Context
Policymakers and analysts use this metric to assess the fiscal and economic policies of the Austrian government.
Key Facts
- Austria's government final consumption expenditure reached €93.4 billion in 2020.
- Government spending accounted for 19.7% of Austria's GDP in 2020.
- This metric has grown at an average annual rate of 1.4% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the value of goods and services consumed by the public sector in Austria, adjusted for inflation. It is a key component of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the role of government spending in the Austrian economy, which is crucial for policymakers and economists to assess fiscal and economic policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Austrian statistical agency based on national accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the government's fiscal policies and their impact on the broader Austrian economy.
Q: Are there update delays or limitations?
A: The data is published regularly by the Austrian statistical agency, with some potential for minor delays in data reporting.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Austria (NAEXKP03ATQ189S), retrieved from FRED.