Producer Prices Index: Type of goods: Consumer goods: Total for the European Union
Growth rate previous period, Quarterly
EU28PITGCG01GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-0.58
Year-over-Year Change
-187.88%
Date Range
4/1/2000 - 4/1/2020
Summary
The 'Growth rate previous period, Quarterly' series measures the quarterly percent change in the gross domestic product (GDP) of the European Union. This key economic indicator is closely watched by policymakers, analysts, and businesses to assess the health and trajectory of the EU economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents the quarter-over-quarter percent change in the real GDP of the European Union, which encompasses 28 member states. It is a primary gauge of economic growth and a critical statistic used to evaluate the overall performance of the EU economy.
Methodology
The data is collected and calculated by Eurostat, the statistical office of the European Union.
Historical Context
The GDP growth rate is a crucial input for monetary and fiscal policy decisions made by the European Central Bank and EU governments.
Key Facts
- The EU experienced a record GDP contraction of 11.5% in Q2 2020 due to the COVID-19 pandemic.
- Quarterly GDP growth averaged 0.5% in the EU from 2010-2019 prior to the pandemic.
- Germany, France, and Italy are the three largest economies in the European Union.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate previous period, Quarterly' series measures the quarter-over-quarter percent change in the real gross domestic product (GDP) of the European Union.
Q: Why is this trend relevant for users or analysts?
A: This GDP growth rate is a critical indicator of the overall health and performance of the EU economy, making it highly relevant for policymakers, economists, investors, and businesses.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Eurostat, the statistical office of the European Union.
Q: How is this trend used in economic policy?
A: The quarterly GDP growth rate is a key input for monetary and fiscal policy decisions made by the European Central Bank and EU governments.
Q: Are there update delays or limitations?
A: The GDP growth data is typically released by Eurostat within 2 months after the end of each quarter.
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Citation
U.S. Federal Reserve, Growth rate previous period, Quarterly (EU28PITGCG01GPQ), retrieved from FRED.