What does HFCE mean in Unclassified?
This page is about the meanings of the acronym/abbreviation/shorthand HFCE in the Miscellaneous field in general and in the Unclassified terminology in particular.
Household final consumption expenditure
Submitted by S4Bot on September 11, 2016
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Definition
What does HFCE mean?
- Household final consumption expenditure
- Household final consumption expenditure (HFCE) is a transaction of the national account's use of income account representing consumer spending. It consists of the expenditure incurred by resident households on individual consumption goods and services, including those sold at prices that are not economically significant. It also includes various kinds of imputed expenditure of which the imputed rent for services of owner-occupied housing (imputed rents) is generally the most important one. The household sector covers not only those living in traditional households, but also those people living in communal establishments, such as retirement homes, boarding houses and prisons. The above given definition of HFCE includes expenditure by resident households on the domestic territory and expenditure by resident households abroad (outbound tourists), but excludes any non-resident households' expenditure on the domestic territory (inbound tourists). From this national definition of consumption expenditure may be distinguished the household final consumption expenditure according to the domestic concept which includes household expenditure made on the domestic territory by residents and inbound tourists, but excludes residents' expenditure made abroad. HFCE is measured at purchasers' prices which is the price the purchaser actually pays at the time of the purchase. It includes non-deductible value added tax and other taxes on products, transport and marketing costs and tips paid over and above stated prices.
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"HFCE." Abbreviations.com. STANDS4 LLC, 2024. Web. 5 Jun 2024. <https://www.abbreviations.com/term/1814251>.
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