Purchasing Power Parity Converted GDP Laspeyres per worker for Austria
RGDPLWATA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
75,671.59
Year-over-Year Change
14.92%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Laspeyres per worker for Austria measures the economic productivity of Austrian workers, adjusting for cost-of-living differences across 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
This metric represents the real gross domestic product (GDP) per person employed in Austria, calculated using purchasing power parity (PPP) conversion factors. It provides a standardized measure of labor productivity that enables cross-country comparisons.
Methodology
The data is collected and calculated by the Conference Board, a global research organization.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess and compare the economic performance of different countries.
Key Facts
- Austria's GDP per worker was $66,462 in 2021.
- Austria's labor productivity ranks among the highest in the OECD.
- GDP per worker is a key indicator of a country's economic efficiency.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) per person employed in Austria, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a standardized measure of labor productivity that enables meaningful comparisons of economic performance between Austria and other countries.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Conference Board, a global research organization.
Q: How is this trend used in economic policy?
A: Policymakers and international organizations use this trend to assess and compare the economic efficiency and competitiveness of different countries.
Q: Are there update delays or limitations?
A: The data is typically updated on an annual basis, with some potential for delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per worker for Austria (RGDPLWATA627NUPN), retrieved from FRED.