Price Level of Government Consumption for Norway
PLOGINNOA623NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
179.64
Year-over-Year Change
43.78%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of Government Consumption for Norway measures the relative price of government consumption in Norway compared to the United States. It is a key indicator for assessing the cost-effectiveness of government spending and fiscal policy.
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 series represents the price level of government consumption in Norway relative to the United States, with the U.S. price level set to 100. It provides insights into the purchasing power and cost-efficiency of government expenditures in Norway compared to the U.S. benchmark.
Methodology
The data is calculated based on price and expenditure information collected by national statistical agencies.
Historical Context
Policymakers and economists use this trend to evaluate Norway's fiscal policies and government spending relative to other advanced economies.
Key Facts
- Norway's government consumption price level was 125.4 in 2020.
- The price level has fluctuated between 110 and 125 over the past decade.
- Norway's government consumption is more expensive than the U.S. benchmark.
FAQs
Q: What does this economic trend measure?
A: This trend measures the relative price level of government consumption in Norway compared to the United States, providing insights into the cost-effectiveness of Norway's government expenditures.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for evaluating Norway's fiscal policies and the purchasing power of its government spending relative to other advanced economies.
Q: How is this data collected or calculated?
A: The data is calculated based on price and expenditure information collected by national statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the cost-effectiveness of Norway's government spending and to inform fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the timeliness of national statistical agency releases, and may not fully capture all aspects of government consumption.
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Citation
U.S. Federal Reserve, Price Level of Government Consumption for Norway (PLOGINNOA623NUPN), retrieved from FRED.