National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Australia
NAEXKP03AUQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132,843,000,000.00
Year-over-Year Change
11.80%
Date Range
1/1/1960 - 7/1/2023
Summary
This economic trend measures the constant-price government final consumption expenditure in Australia, a key component of the country's gross domestic product (GDP) by expenditure.
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 represents the value of goods and services consumed by the government to produce public services. This metric is essential for analyzing a country's economic structure and evaluating the role of the public sector in driving national output.
Methodology
The data is collected and calculated by the Australian Bureau of Statistics.
Historical Context
Policymakers and analysts use this trend to assess the government's fiscal policy and its impact on overall economic performance.
Key Facts
- Australia's government final consumption expenditure accounts for around 18% of its GDP.
- This metric has shown steady growth over the past decade, reflecting the government's increasing role in the economy.
- The trend is reported quarterly and is adjusted for inflation using constant prices.
FAQs
Q: What does this economic trend measure?
A: This trend measures the constant-price government final consumption expenditure in Australia, which represents the value of goods and services consumed by the government to produce public services.
Q: Why is this trend relevant for users or analysts?
A: This metric is essential for analyzing a country's economic structure and evaluating the role of the public sector in driving national output. It is a key component of Australia's GDP by expenditure and provides important insights for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Australian Bureau of Statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to assess the government's fiscal policy and its impact on overall economic performance. It helps them understand the role of the public sector in driving economic growth and development.
Q: Are there update delays or limitations?
A: The trend is reported quarterly and is adjusted for inflation using constant prices. There may be some delays in the release of the data, but it generally provides a timely and reliable measure of government final consumption expenditure in Australia.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Australia (NAEXKP03AUQ189S), retrieved from FRED.