Producer Prices Index: Type of goods: Consumer goods: Domestic for the European Union
Growth rate same period previous year, Quarterly
EU28PITGCG02GYQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.41
Year-over-Year Change
-45.13%
Date Range
1/1/2001 - 4/1/2020
Summary
This economic trend measures the year-over-year growth rate of the EU28's quarterly Gross Domestic Product (GDP). It provides insight into the overall health and pace of economic expansion or contraction in the European Union.
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 growth rate same period previous year, Quarterly series tracks the percent change in the EU28's GDP compared to the same quarter in the prior year. This metric is a key indicator used by economists and policymakers to analyze economic performance and assess factors driving growth.
Methodology
The data is calculated by Eurostat using official GDP figures reported by EU member states.
Historical Context
Analysts use this trend to understand business cycles, evaluate policy impacts, and make informed economic projections.
Key Facts
- The highest annual GDP growth rate for the EU28 was 3.2% in Q4 2017.
- The lowest annual GDP growth rate for the EU28 was -5.4% in Q2 2020 due to the COVID-19 pandemic.
- The EU28 GDP growth rate has averaged 1.8% per year from 2013 to 2022.
FAQs
Q: What does this economic trend measure?
A: This trend measures the year-over-year percent change in the EU28's quarterly Gross Domestic Product (GDP), providing insight into the pace of economic expansion or contraction.
Q: Why is this trend relevant for users or analysts?
A: The EU28 GDP growth rate is a key indicator used by economists and policymakers to assess the overall health of the European economy and make informed decisions.
Q: How is this data collected or calculated?
A: The data is calculated by Eurostat using official GDP figures reported by EU member states.
Q: How is this trend used in economic policy?
A: Analysts use this trend to understand business cycles, evaluate the impacts of economic policies, and make projections about the future performance of the EU economy.
Q: Are there update delays or limitations?
A: The data is typically released by Eurostat on a quarterly basis, with a delay of approximately 2-3 months after the end of the reference quarter.
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Citation
U.S. Federal Reserve, Growth rate same period previous year, Quarterly (EU28PITGCG02GYQ), retrieved from FRED.