National Accounts: GDP by Expenditure: Current Prices: Private Final Consumption Expenditure for Slovak Republic
SVKPFCEQDSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,510,702,000.00
Year-over-Year Change
36.02%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic trend measures the total value of private consumption expenditures in the Slovak Republic, a key component of Gross Domestic Product (GDP). It provides insights into consumer demand and the overall health of the Slovak economy.
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
Private Final Consumption Expenditure (PFCE) represents the market value of all goods and services purchased by households in the Slovak Republic. It is a vital indicator used by economists and policymakers to analyze consumer spending patterns and their impact on economic growth.
Methodology
The data is collected and calculated by the Slovak Statistical Office based on surveys and national accounts.
Historical Context
PFCE data is closely monitored by the National Bank of Slovakia and other institutions to inform monetary and fiscal policy decisions.
Key Facts
- PFCE accounts for over 50% of Slovakia's GDP.
- Consumer spending has been a key driver of economic growth in Slovakia.
- The COVID-19 pandemic led to a sharp decline in PFCE in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of private consumption expenditures in the Slovak Republic, which includes spending by households on goods and services.
Q: Why is this trend relevant for users or analysts?
A: PFCE is a crucial indicator of consumer demand and an important component of GDP, providing insights into the overall health of the Slovak economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Slovak Statistical Office based on surveys and national accounts.
Q: How is this trend used in economic policy?
A: PFCE data is closely monitored by the National Bank of Slovakia and other institutions to inform monetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a typical 2-3 month delay.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Current Prices: Private Final Consumption Expenditure for Slovak Republic (SVKPFCEQDSMEI), retrieved from FRED.