ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -For that indicator, we provide data for the United Kingdom from 1960 to 2021. The average value for the United Kingdom during that period was 66.8 percent with a minimum of 60.9 percent in 2020 and a maximum of 74.42 percent in 1962. The latest value from 2021 is 61.47 percent.

Detailed explanation-2: -UK Private Consumption Expenditure was reported at 471.572 USD bn in Dec 2022. This records an increase from the previous number of 466.287 USD bn for Sep 2022. UK Private Consumption Expenditure data is updated quarterly, averaging 163.297 USD bn from Mar 1957 to Dec 2022, with 264 observations.

Detailed explanation-3: -Consumption and saving in aggregate demand. Consumption is the total amount of households’ planned spending on goods and services produced in the economy. Consumer spending is the single largest component of aggregate demand. It made up 60.8% of the nominal GDP (gross domestic product) in June 2021.

Detailed explanation-4: -Consumption spending (C) is the largest component of an economy’s aggregate demand, and it refers to the total spending of individuals and households on goods and services in the economy.