Gross Domestic Product by Expenditure in Constant Prices: Government Final Consumption Expenditure for the European Union
NAEXKP03EUQ652S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
709,208,666,402.30
Year-over-Year Change
4.95%
Date Range
1/1/1995 - 10/1/2019
Summary
This economic trend measures government final consumption expenditure for the European Union, adjusted for inflation. It is a key indicator of the public sector's contribution to overall economic activity.
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 includes spending by central and local governments on goods and services. This metric provides insight into the fiscal policy stance and the public sector's role in driving economic growth.
Methodology
The data is calculated by Eurostat based on national accounts information.
Historical Context
Economists and policymakers monitor this trend to assess the European Union's fiscal policy and its impact on the broader economy.
Key Facts
- Government spending accounts for over 20% of EU GDP.
- Spending peaked during the COVID-19 pandemic in 2020.
- Germany and France are the largest contributors to EU government consumption.
FAQs
Q: What does this economic trend measure?
A: This trend measures government final consumption expenditure for the European Union, which includes spending by central and local governments on goods and services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the fiscal policy stance and the public sector's role in driving economic growth within the European Union.
Q: How is this data collected or calculated?
A: The data is calculated by Eurostat based on national accounts information.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor this trend to assess the European Union's fiscal policy and its impact on the broader economy.
Q: Are there update delays or limitations?
A: The data is typically updated on a quarterly basis, with some potential for delays in data reporting.
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Citation
U.S. Federal Reserve, Gross Domestic Product by Expenditure in Constant Prices: Government Final Consumption Expenditure for the European Union (NAEXKP03EUQ652S), retrieved from FRED.