The GDP is the most important economic indicator and is indicative of a country's economic situation. It measures the economic performance of a country over a given period. This page offers access to the most recent quarterly data for EU countries.
The EU Stability and Growth Pact stipulates that Eurozone members must adhere to certain rules and ensure budgetary discipline. The annual government deficit – also known as net borrowing - is not to exceed 3% of the gross domestic product (GDP). In 2022, most of the 27 EU member states managed to stay below this limit.
COVID-19 leads to a decline in private consumption expenditure
Closed stores, canceled cultural events, travel restrictions and increased work from home as well as uncertainties due to the uncertain economic situation all contributed to consumers spending less.
