Producer Prices Index: Total Nondurable Consumer Goods for the European Union
Annual
PITGND01EUA661N • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
102.10
Year-over-Year Change
12.85%
Date Range
1/1/2000 - 1/1/2019
Summary
The Annual trend measures the gross domestic product (GDP) per capita in the European Union. This metric is crucial for economists and policymakers to assess a country's economic development and standard of living.
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 Annual trend represents the GDP per capita, which is a measure of a country's economic output divided by its population. It is a key indicator of a nation's economic well-being and living standards used by governments, international organizations, and analysts.
Methodology
The data is calculated by the World Bank using national accounts data and population figures.
Historical Context
Policymakers and market analysts closely monitor GDP per capita trends to inform economic and social policies.
Key Facts
- GDP per capita in the EU was $35,506 in 2021.
- GDP per capita has grown by 18% in the EU since 2010.
- Luxembourg has the highest GDP per capita in the EU at $116,000.
FAQs
Q: What does this economic trend measure?
A: The Annual trend measures the gross domestic product (GDP) per capita in the European Union, which is a key indicator of a country's economic output and living standards.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a crucial metric used by economists, policymakers, and market analysts to assess a country's economic development and standard of living, informing economic and social policies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts data and population figures.
Q: How is this trend used in economic policy?
A: Governments, international organizations, and analysts closely monitor GDP per capita trends to inform economic and social policies aimed at improving a country's living standards and overall economic well-being.
Q: Are there update delays or limitations?
A: The Annual GDP per capita data is updated regularly by the World Bank, but there may be some delays in the most recent figures being available.
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Citation
U.S. Federal Reserve, Annual (PITGND01EUA661N), retrieved from FRED.