Italy - Household final consumption expenditure, etc. (% of GDP)

Household final consumption expenditure, etc. (% of GDP) in Italy was 60.85 as of 2016. Its highest value over the past 51 years was 61.60 in 2012, while its lowest value was 57.60 in 1969.

Definition: Household final consumption expenditure (formerly private consumption) is the market value of all goods and services, including durable products (such as cars, washing machines, and home computers), purchased by households. It excludes purchases of dwellings but includes imputed rent for owner-occupied dwellings. It also includes payments and fees to governments to obtain permits and licenses. Here, household consumption expenditure includes the expenditures of nonprofit institutions serving households, even when reported separately by the country. This item also includes any statistical discrepancy in the use of resources relative to the supply of resources.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1965 57.82
1966 59.10
1967 59.44
1968 57.73
1969 57.60
1970 58.98
1971 59.19
1972 59.45
1973 59.42
1974 58.77
1975 60.42
1976 59.38
1977 59.15
1978 57.97
1979 58.40
1980 59.55
1981 59.62
1982 59.81
1983 59.13
1984 59.19
1985 59.17
1986 59.22
1987 58.95
1988 58.47
1989 58.98
1990 57.84
1991 58.11
1992 59.04
1993 58.66
1994 59.16
1995 59.03
1996 58.60
1997 59.20
1998 59.81
1999 60.54
2000 60.56
2001 59.66
2002 59.28
2003 59.50
2004 59.09
2005 59.43
2006 59.51
2007 59.23
2008 59.58
2009 60.64
2010 61.01
2011 61.51
2012 61.60
2013 61.13
2014 60.80
2015 60.95
2016 60.85

Limitations and Exceptions: Because policymakers have tended to focus on fostering the growth of output, and because data on production are easier to collect than data on spending, many countries generate their primary estimate of GDP using the production approach. Moreover, many countries do not estimate all the components of national expenditures but instead derive some of the main aggregates indirectly using GDP (based on the production approach) as the control total. Household final consumption expenditure is often estimated as a residual, by subtracting all other known expenditures from GDP. The resulting aggregate may incorporate fairly large discrepancies. When household consumption is calculated separately, many of the estimates are based on household surveys, which tend to be one-year studies with limited coverage. Thus the estimates quickly become outdated and must be supplemented by estimates using price- and quantity-based statistical procedures. Complicating the issue, in many developing countries the distinction between cash outlays for personal business and those for household use may be blurred. Informal economic activities pose a particular measurement problem, especially in developing countries, where much economic activity is unrecorded. A complete picture of the economy requires estimating household outputs produced for home use, sales in informal markets, barter exchanges, and illicit or deliberately unreported activities. The consistency and completeness of such estimates depend on the skill and methods of the compiling statisticians.

Statistical Concept and Methodology: Gross domestic product (GDP) from the expenditure side is made up of household final consumption expenditure, general government final consumption expenditure, gross capital formation (private and public investment in fixed assets, changes in inventories, and net acquisitions of valuables), and net exports (exports minus imports) of goods and services. Such expenditures are recorded in purchaser prices and include net taxes on products.

Aggregation method: Weighted average

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts