Gross Domestic Product by Expenditure in Constant Prices: Government Final Consumption Expenditure for the European Union
Chained 2000 National Currency Units, Annual, Not Seasonally Adjusted
NAEXKP03EUA652S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,807,123,165,789.45
Year-over-Year Change
15.26%
Date Range
1/1/1995 - 1/1/2019
Summary
This economic trend measures the chained GDP in 2000 national currency units for the European Union. It provides key insights into the overall economic performance and growth of the EU.
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, Annual, Not Seasonally Adjusted series tracks the real GDP of the European Union, adjusted for inflation using 2000 as the base year. This data helps economists and policymakers analyze the EU's economic expansion and development over time.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on official EU economic statistics.
Historical Context
This GDP trend is widely used to inform economic policy decisions and assess the EU's macroeconomic conditions.
Key Facts
- The EU's chained GDP in 2000 national currency units was 9,958.93 in 2021.
- This trend has shown steady growth over the past decade, with an average annual increase of 1.6%.
- The EU's GDP reached its highest point in 2008 at 10,365.55 national currency units.
FAQs
Q: What does this economic trend measure?
A: This trend measures the chained real GDP of the European Union, adjusted for inflation using 2000 as the base year. It provides insight into the EU's overall economic performance and growth.
Q: Why is this trend relevant for users or analysts?
A: This GDP data is essential for economists and policymakers to assess the EU's macroeconomic conditions and inform economic policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on official EU economic statistics.
Q: How is this trend used in economic policy?
A: The chained GDP trend is widely used to analyze the EU's economic expansion and development, which informs policy decisions and assessments of the region's macroeconomic conditions.
Q: Are there update delays or limitations?
A: There may be some delays in data updates, as the information is based on official EU statistics. Additionally, the data is not seasonally adjusted, which should be considered when interpreting the trends.
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Citation
U.S. Federal Reserve, Chained 2000 National Currency Units, Annual, Not Seasonally Adjusted (NAEXKP03EUA652S), retrieved from FRED.