National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Spain
NAEXKP03ESQ661S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
118.44
Year-over-Year Change
7.02%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic trend measures government final consumption expenditure in Spain, adjusted for inflation. It is a key component of Spain's gross domestic product (GDP) and provides insights into the public sector's role in the Spanish 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
Government final consumption expenditure represents the value of goods and services produced by the government for immediate consumption. This metric is used by economists and policymakers to analyze the size and composition of government spending in relation to overall economic activity.
Methodology
The data is collected and calculated by Spain's National Statistics Institute using the European System of Accounts methodology.
Historical Context
This trend is widely used to inform fiscal and monetary policy decisions in Spain and the Eurozone.
Key Facts
- Government consumption makes up around 20% of Spain's GDP.
- This metric has grown at an average annual rate of 1.2% over the past decade.
- Spending on public administration and defense accounts for the largest share of government consumption in Spain.
FAQs
Q: What does this economic trend measure?
A: This trend measures government final consumption expenditure in Spain, which represents the value of goods and services produced by the government for immediate consumption.
Q: Why is this trend relevant for users or analysts?
A: Government consumption is a key component of GDP and provides important insights into the public sector's role in the Spanish economy. This metric is widely used by economists and policymakers to analyze fiscal policy and its impact on overall economic activity.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Spain's National Statistics Institute using the European System of Accounts methodology.
Q: How is this trend used in economic policy?
A: This trend is widely used to inform fiscal and monetary policy decisions in Spain and the Eurozone, as government consumption is a crucial factor in the overall economic performance and stability of the country and the broader region.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and there may be occasional revisions to historical figures as more complete information becomes available.
Related Trends
Producer Prices Index: Economic Activities: Energy: Domestic for Spain
PIEAEN02ESM661N
Consumer Price Index: Harmonized Prices: Housing, Water, Electricity, Gas and Other Fuels (COICOP 04): Total for Spain
ESPCPHP0400IXEBM
Financial Market: Share Prices for Spain
SPASTT01ESA661N
Labor Compensation: Earnings: Private Sector: Hourly for Spain
LCEAPR01ESQ661S
Producer Prices Index: Economic Activities: Industrial Activities: Total for Spain
ESPPIEATI01GPM
Total Credit to Private Non-Financial Sector, Adjusted for Breaks, for Spain
QESPAM770A
Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Government Final Consumption Expenditure for Spain (NAEXKP03ESQ661S), retrieved from FRED.