Gross Domestic Product by Expenditure in Constant Prices: Total Gross Domestic Product for the European Union
NAEXKP01EUQ657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.14
Year-over-Year Change
-82.28%
Date Range
4/1/1995 - 10/1/2019
Summary
The Gross Domestic Product (GDP) by Expenditure in Constant Prices: Total Gross Domestic Product for the European Union measures the total economic output of the EU, adjusted for inflation. This key metric is widely used by economists and policymakers to assess the health and growth of the European 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 total GDP of the European Union, calculated in real (inflation-adjusted) terms to track economic growth over time. GDP is a comprehensive measure of a country or region's economic activity, including consumer spending, business investment, government expenditures, and net exports.
Methodology
The data is collected and calculated by Eurostat, the statistical office of the European Union.
Historical Context
Policymakers and market analysts closely monitor EU GDP growth as an indicator of the broader economic conditions and performance within the European Union.
Key Facts
- EU GDP totaled €13.6 trillion in 2021.
- GDP growth in the EU was 5.4% in 2021, rebounding from a 5.9% contraction in 2020.
- Germany, France, and Italy account for over 70% of total EU economic output.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total Gross Domestic Product (GDP) of the European Union, adjusted for inflation. GDP is a comprehensive indicator of a region's overall economic activity and production.
Q: Why is this trend relevant for users or analysts?
A: EU GDP is a key indicator used by economists, policymakers, and market participants to assess the health, growth, and performance of the European economy as a whole.
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: Policymakers and central banks closely monitor EU GDP growth as a measure of overall economic conditions, which informs decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of approximately 2 months.
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Citation
U.S. Federal Reserve, Gross Domestic Product by Expenditure in Constant Prices: Total Gross Domestic Product for the European Union (NAEXKP01EUQ657S), retrieved from FRED.