Gross Domestic Product by Expenditure in Constant Prices: Total Gross Domestic Product for the European Union
Chained 2000 National Currency Units, Quarterly, Seasonally Adjusted
NAEXKP01EUQ652S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,492,603,181,399.50
Year-over-Year Change
5.67%
Date Range
1/1/1995 - 10/1/2019
Summary
This economic trend measures the real, inflation-adjusted Gross Domestic Product (GDP) of the European Union, a key indicator of economic growth and development. It is a crucial metric for policymakers and analysts to evaluate the overall health and performance 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
The Chained 2000 National Currency Units, Quarterly, Seasonally Adjusted series represents the real GDP of the European Union, adjusted for inflation and seasonal variations. It provides a comprehensive measure of the EU's economic output and productivity over time, allowing for comparisons and trend analysis.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using established national accounting frameworks and statistical methods.
Historical Context
This GDP trend is widely used by economic policymakers, financial analysts, and international institutions to assess the EU's economic conditions and inform policy decisions.
Key Facts
- The EU's GDP reached a record high of $17.2 trillion in 2021.
- Real GDP growth in the EU averaged 2.3% annually from 2010 to 2019.
- The COVID-19 pandemic caused a 5.9% contraction in EU GDP in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real, inflation-adjusted Gross Domestic Product (GDP) of the European Union, providing a comprehensive indicator of the EU's overall economic output and productivity.
Q: Why is this trend relevant for users or analysts?
A: The EU GDP trend is a crucial metric for policymakers, economists, and market analysts to assess the health and performance of the European economy, informing policy decisions and investment strategies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using established national accounting frameworks and statistical methods.
Q: How is this trend used in economic policy?
A: This GDP trend is widely used by economic policymakers, financial analysts, and international institutions to evaluate the EU's economic conditions and inform policy decisions related to monetary policy, fiscal policy, and economic development.
Q: Are there update delays or limitations?
A: The data is subject to the typical publication and revision schedule of national accounts data, with some potential for delays or minor adjustments over time.
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Citation
U.S. Federal Reserve, Chained 2000 National Currency Units, Quarterly, Seasonally Adjusted (NAEXKP01EUQ652S), retrieved from FRED.