Gross Domestic Product by Expenditure in Constant Prices: Less: Imports of Goods and Services for the European Union
Growth Rate Same Period Previous Year, Quarterly, Seasonally Adjusted
NAEXKP07EUQ659S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.77
Year-over-Year Change
-40.56%
Date Range
1/1/1996 - 10/1/2019
Summary
This economic trend measures the year-over-year growth rate of real GDP in the European Union on a quarterly, seasonally adjusted basis. It is a key indicator of the pace of economic expansion or contraction.
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 of real GDP from the same quarter in the previous year provides insight into the overall trajectory of the European economy. Economists and policymakers closely monitor this metric to assess the strength and stability of economic conditions.
Methodology
The data is calculated by the U.S. Federal Reserve based on GDP figures reported by Eurostat.
Historical Context
This growth rate trend is widely referenced by analysts to gauge the EU's macroeconomic performance and inform policy decisions.
Key Facts
- The EU's GDP growth rate averaged 2.1% from 2010-2019.
- GDP growth contracted by 5.9% in 2020 due to the COVID-19 pandemic.
- The EU's GDP is the second-largest in the world after the United States.
FAQs
Q: What does this economic trend measure?
A: This trend measures the year-over-year growth rate of real GDP in the European Union on a quarterly, seasonally adjusted basis.
Q: Why is this trend relevant for users or analysts?
A: The GDP growth rate is a key indicator of the overall health and trajectory of the European economy, which is closely monitored by economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve based on GDP figures reported by Eurostat.
Q: How is this trend used in economic policy?
A: The EU's GDP growth rate is widely referenced by analysts and policymakers to gauge macroeconomic performance and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published on a quarterly basis, with a typical delay of 1-2 months from the end of the reference quarter.
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Citation
U.S. Federal Reserve, Growth Rate Same Period Previous Year, Quarterly, Seasonally Adjusted (NAEXKP07EUQ659S), retrieved from FRED.