Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for United Kingdom
PCDGDPGBA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,641.25
Year-over-Year Change
64.02%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the purchasing power-adjusted domestic absorption per capita in the United Kingdom. It provides insights into the country's standard of living and economic development.
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
The Purchasing Power Parity Converted Domestic Absorption Per Capita metric adjusts the total domestic absorption (consumption, investment, and government spending) for differences in price levels across countries, allowing for better international comparisons of living standards.
Methodology
The data is calculated by the OECD using the Geary-Khamis method to convert national accounts data to a common currency and price level.
Historical Context
This trend is used by economists and policymakers to evaluate the UK's economic performance and living standards relative to other countries.
Key Facts
- The UK's Purchasing Power Parity Converted Domestic Absorption Per Capita was $33,723 in 2021.
- This metric has grown by an average of 1.2% per year over the past decade.
- The UK ranks 8th among OECD countries on this indicator.
FAQs
Q: What does this economic trend measure?
A: This metric measures the purchasing power-adjusted domestic absorption per capita in the United Kingdom, providing insights into the country's standard of living and economic development.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for evaluating the UK's economic performance and living standards relative to other countries, which is useful for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using the Geary-Khamis method to convert national accounts data to a common currency and price level.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the UK's economic development and living standards compared to other countries, which can inform policy decisions.
Q: Are there update delays or limitations?
A: There may be some delays in the availability of the latest data, as it relies on national accounts and purchasing power parity information.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for United Kingdom (PCDGDPGBA620NUPN), retrieved from FRED.