Producer Prices Index: Economic activities: Manufacture of food products: Total for the European Union
Growth rate same period previous year, Monthly
EU28PIEAFD01GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.77
Year-over-Year Change
-53.71%
Date Range
1/1/2001 - 6/1/2020
Summary
The 'Growth rate same period previous year, Monthly' trend measures the year-over-year change in the Gross Domestic Product (GDP) of the European Union 28 countries. This economic indicator is closely watched by policymakers and analysts to assess the overall 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 tracks the percent change in GDP compared to the same month in the previous year. It provides an important measure of economic performance and growth momentum across the EU. Analysts use this data to understand broader macroeconomic conditions and inform economic policy decisions.
Methodology
The data is collected by Eurostat, the statistical office of the European Union, through surveys and national accounts reporting.
Historical Context
Policymakers and market participants closely monitor this GDP growth metric to gauge the strength of the European economy and make informed decisions.
Key Facts
- GDP growth in the EU28 was 4.3% in January 2023 compared to January 2022.
- The eurozone economy grew by 3.5% year-over-year in Q4 2022.
- Germany, the largest EU economy, saw GDP growth of 1.9% in 2022.
FAQs
Q: What does this economic trend measure?
A: The 'Growth rate same period previous year, Monthly' trend measures the year-over-year percent change in the Gross Domestic Product (GDP) of the European Union 28 countries.
Q: Why is this trend relevant for users or analysts?
A: This GDP growth metric is a key indicator of the overall health and performance of the European economy, making it highly relevant for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected by Eurostat, the statistical office of the European Union, through national accounts reporting and surveys.
Q: How is this trend used in economic policy?
A: Policymakers closely monitor this GDP growth trend to assess the strength of the European economy and inform decisions on monetary and fiscal policies.
Q: Are there update delays or limitations?
A: The data is released monthly by Eurostat, with a typical lag of several weeks from the end of the reference period.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Monthly (EU28PIEAFD01GYM), retrieved from FRED.