European Union Gross Domestic Product (GDP) y/y
| Medium | 0.9% | 0.9% |
0.9%
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| Last release | Importance | Actual | Forecast |
Previous
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Gross Domestic Product y/y reflects a change in the total value of all goods and services produced in the euro area in the specified quarter compared to the same quarter of the previous year. The calculation excludes the price of goods and services used in the intermediate manufacturing. The data are seasonally adjusted. Eurozone's GDP is calculated based on individual GDPs of Member States.
The formula for the expenditure based calculation of GDP generally looks like the sum of the following components:
- Expenditures on personal consumption
- Gross capital investment (investment in private companies, for example equipment)
- Government spending (both consumption and investment)
- Net Exports (exports minus imports. The value can be negative)
The most important data sources available in national summaries for the eurozone countries are as follows:
- Short-term business surveys, which provide data on sales and turnover, purchases, inventories, workers' remuneration and employment, production indices and retail sales
- Surveys of households on income and expenditures on goods and services
- Price statistics (CPI, PPI, import and export price indices, Construction Cost Index)
- Foreign trade statistics
- Data from administrative sources (government revenues and expenditures, financial statements, tax returns, building permits, employment data, etc.).
GDP is the key indicator of the eurozone's economic health. The growth of the indicator means an increase in the economy and in the well-being of the population. So GDP growth may have a positive impact on euro quotes.
Last values:
actual data
forecast
The chart of the entire available history of the "European Union Gross Domestic Product (GDP) y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
