Private Consumption in Iceland
The Icelandic economy recorded an average growth rate of 2.6% in private consumption in the decade to 2024, below the 2.6% average for Nordic Economies. In 2024, the growth of private consumption was0.8%. For more information on private consumption, visit our dedicated page
Iceland Private consumption Chart
Note: This chart displays Private Consumption (annual variation in %) for Iceland from 2024 to 2020.
Source: Macrobond.
Iceland Private consumption Data
| 2020 | 2021 | 2022 | 2023 | 2024 | |
|---|---|---|---|---|---|
| Private Consumption (ann. var. %) | -2.5 | 8.1 | 7.6 | 0.6 | 0.8 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Icelandic private consumption projections for the next ten years from a panel of 8 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable private consumption forecast available for Icelandic private consumption.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Icelandic private consumption projections.
Want to get access to the full dataset of Icelandic private consumption forecasts? Send an email to info@focus-economics.com.