Price Level of GDP, average of GEKS-CPDW for Austria
PL2GDPATA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
107.90
Year-over-Year Change
10.74%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Austria measures the relative purchasing power of the Austrian economy compared to other countries. It is a key indicator for assessing Austria's international competitiveness and cost of living.
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 trend represents the price level of GDP in Austria, calculated using the Gini-Éltetö-Köves-Szulc (GEKS) method with the Consumption Purchasing Power Disparity Weighted (CPDW) approach. It allows for cross-country comparisons of price levels and living standards.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using expenditure and price data from national accounts.
Historical Context
This metric informs policymakers and analysts on Austria's economic position relative to trading partners and competitors.
Key Facts
- Austria's price level was 107.6% of the U.S. level in 2021.
- Austria's price level has remained relatively stable since 2010.
- The GEKS-CPDW method adjusts for differences in consumption patterns across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the relative price level of GDP in Austria compared to other countries, allowing for cross-country comparisons of living standards and purchasing power.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for assessing Austria's international competitiveness and the cost of living in the country relative to its trading partners.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using expenditure and price data from national accounts.
Q: How is this trend used in economic policy?
A: This trend informs policymakers and analysts on Austria's economic position relative to trading partners and competitors, which can inform trade, monetary, and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not capture the most recent economic conditions in Austria.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Austria (PL2GDPATA621NUPN), retrieved from FRED.