Final consumption expenditure (constant LCU)

This economic metric quantifies the total spending on goods and services by households and government entities, reflecting the purchasing power and consumption patterns within an economy over time. By focusing on constant local currency, this measure allows for the analysis of real consumption trends, stripping away the effects of inflation to offer a clearer picture of changes in consumer behavior and government spending. It encompasses both private expenditures on essential and non-essential items by households, as well as the broad array of goods and services consumed by government bodies. This indicator is crucial for understanding economic health, guiding policymakers in effective resource allocation, and providing insights into the living standards and welfare of the population. Source: