Nominal General Government Final Consumption Expenditure for Australia
NCGGSAXDCAUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
160,929.00
Year-over-Year Change
22.69%
Date Range
7/1/1959 - 1/1/2025
Summary
The Nominal General Government Final Consumption Expenditure for Australia measures the total final consumption expenditure of the general government sector in Australia. It is a key indicator of government economic activity and a component of the country's gross domestic product.
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
This economic indicator represents the value of goods and services consumed by the Australian government, including expenditures on public administration, defense, education, and healthcare. It is a widely used metric for assessing the size and role of the public sector within the broader economy.
Methodology
The data is collected and calculated by the Australian Bureau of Statistics based on government budget and expenditure reporting.
Historical Context
Analysts and policymakers monitor this metric to understand the fiscal policy stance and the government's contribution to overall economic growth.
Key Facts
- Australia's nominal government consumption expenditure was $368.6 billion in 2021.
- Government consumption accounted for 18.3% of Australia's GDP in 2021.
- This metric has grown at an average annual rate of 4.7% over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Nominal General Government Final Consumption Expenditure for Australia measures the total value of goods and services consumed by the Australian government, including expenditures on public administration, defense, education, and healthcare.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of the size and role of the public sector within the Australian economy, and it is closely monitored by analysts and policymakers to understand the government's fiscal policy stance and contribution to overall economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Australian Bureau of Statistics based on government budget and expenditure reporting.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess the government's fiscal policy stance and its impact on the broader economy, including its contribution to economic growth, inflation, and other macroeconomic indicators.
Q: Are there update delays or limitations?
A: The data is typically published on a quarterly basis with a delay of several months, and it may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Nominal General Government Final Consumption Expenditure for Australia (NCGGSAXDCAUQ), retrieved from FRED.