Price Level of GDP, G-K method for Austria
PLOGDPATA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
108.47
Year-over-Year Change
11.10%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Austria measures the general price level of the Austrian economy, which is an important indicator for policymakers and economists analyzing inflation trends.
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 price level of the Austrian Gross Domestic Product, calculated using the Geary-Khamis (G-K) method. It provides insights into the overall price changes in the Austrian economy and is widely used for international comparisons of GDP and living standards.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on national accounts data from Austria.
Historical Context
This trend is closely monitored by central banks, governments, and analysts to assess inflationary pressures and make informed economic policy decisions.
Key Facts
- Austria's GDP price level has increased by 18% over the past decade.
- The G-K method adjusts for differences in purchasing power across countries.
- This metric is used to compare living standards and competitiveness between nations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the general price level of the Gross Domestic Product (GDP) in Austria, using the Geary-Khamis (G-K) method for international comparisons.
Q: Why is this trend relevant for users or analysts?
A: The Price Level of GDP, G-K method for Austria is an important indicator for assessing inflationary pressures, comparing living standards, and evaluating the competitiveness of the Austrian economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on national accounts data from Austria.
Q: How is this trend used in economic policy?
A: Central banks, governments, and analysts closely monitor this trend to make informed decisions about monetary and fiscal policies to manage inflation and promote economic growth.
Q: Are there update delays or limitations?
A: The data is published with a short delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Austria (PLOGDPATA621NUPN), retrieved from FRED.