Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Austria
PGD2USATA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
91.24
Year-over-Year Change
6.96%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures Austria's per capita gross domestic product (GDP) relative to the United States, adjusted for purchasing power parity. It provides insights into the comparative living standards and economic productivity between the two countries.
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 GDP Per Capita Relative to the United States metric allows for cross-country comparisons of economic output and living standards by accounting for differences in price levels between nations. This data point is widely used by economists, policymakers, and international institutions to analyze economic performance and development.
Methodology
The data is calculated by the OECD using the Geary-Khamis method to convert national GDPs to a common currency and adjust for price level differences.
Historical Context
This trend is relevant for assessing Austria's economic competitiveness and potential for convergence with the United States' living standards.
Key Facts
- Austria's GDP per capita is around 75% of the U.S. level.
- Austria has one of the highest living standards in the European Union.
- Austria's economy is heavily export-oriented, with a focus on machinery, vehicles, and chemical products.
FAQs
Q: What does this economic trend measure?
A: This trend measures Austria's per capita gross domestic product (GDP) relative to the United States, adjusted for differences in purchasing power between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for meaningful comparisons of economic output and living standards between Austria and the United States, providing insights into their relative economic competitiveness and development.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using the Geary-Khamis method to convert national GDPs to a common currency and adjust for price level differences.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and international institutions to assess Austria's economic performance and potential for convergence with U.S. living standards, informing policy decisions and economic strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the OECD, with a delay of approximately one year, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Austria (PGD2USATA621NUPN), retrieved from FRED.