Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Australia
PGD2USAUA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
106.21
Year-over-Year Change
28.46%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures Australia's purchasing power parity (PPP) converted GDP per capita relative to the United States. 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 PPP-converted GDP per capita ratio compares the economic output and purchasing power of Australia to the U.S., adjusting for differences in price levels between the countries. This metric is widely used by economists and policymakers to assess relative standards of living and cross-country competitiveness.
Methodology
The data is calculated using the Geary-Khamis method to convert local-currency GDP into internationally comparable U.S. dollars.
Historical Context
This indicator informs analyses of trade, investment, and economic policy between Australia and the U.S.
Key Facts
- Australia's PPP-converted GDP per capita is about 85% of the U.S. level.
- The ratio has remained relatively stable over the past decade.
- This metric adjusts for differences in price levels between countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures Australia's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the comparative living standards and economic productivity between the two countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita ratio is widely used by economists and policymakers to assess relative standards of living and cross-country competitiveness. It informs analyses of trade, investment, and economic policy between Australia and the U.S.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis method to convert local-currency GDP into internationally comparable U.S. dollars.
Q: How is this trend used in economic policy?
A: This indicator is used by markets, economists, and institutions to analyze trade, investment, and economic policy between Australia and the United States.
Q: Are there update delays or limitations?
A: There may be some update delays or limitations in the underlying data, as collecting and harmonizing international economic statistics can be challenging.
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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 Australia (PGD2USAUA621NUPN), retrieved from FRED.