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Source EUROSTAT - Statistical Office of the European Union. The vast majority of investment in the EU-27 was made by the private sector, as can be seen from Table 5: in 2019, investment by businesses and households accounted for 19.4 % of the EU-27’s GDP, whereas the equivalent figure for public sector investment was 3.0 %.
Between 2009 and 2014, output from agriculture, forestry and fishing in the EU-27 fluctuated, with rates of change ranging from -4.7 % to 5.4 %. GDP down by 3.6% and employment down by 0.2% in the euro area in the first quarter of 2020. 2018 Despite this recent period of sustained growth, construction output in 2019 was 3.4 % lower than it had been in 2009 (and therefore considerably lower than it had been before the beginning of the crisis). Within the EU a specific application was developed in relation to the convergence criteria for EMU, two of which refer directly to public finances. These were the sharpest declines since the third quarter of 2009 (-4.5% for euro area and -4.4% for EU). See European aggregates are revised at specific release dates. Real GDP growth rate - volume.
Household final consumption expenditure had a strong negative contribution to GDP growth in both the euro area and the EU-27 (-2.4 and -2.2 percentage points – pp, respectively). The preliminary Please note that most EU countries carried out benchmark revisions in 2019 which were mostly introduced in September-October. GDP and main expenditure components; Value added by main activity; Income, … The European Commission conducts economic analysis contributing to the development of the Policies within the EU are increasingly setting medium or long-term targets, whether binding or not. This article presents key messages and data extractions based on While growth rates for GDP and employment in persons were not revised (except EU-27 growth compared to the same quarter of the previous year from -2.6% to now -2.5%), revisions of some aggregates can mainly related to a benchmark revision introduced in Sharp drops of growth rates in many aggregates are due to the impact of the COVID-19 pandemic, since containment measures began to be widely introduced by Member States in March 2020, the final month of the period covered.
Thereafter, industrial output grew at a relatively fast pace the next four years (with annual increases between 2.4 % and 3.3 %) and a more subdued pace (1.9 %) in 2018 before experiencing a contraction of 0.5 % in 2019. Eurostat has published a GDP decreased by 3.6 % in the euro area (EA-19) and 3.2 % in the EU-27 during the first quarter of 2020, compared with the previous quarter, according to an estimate (see Compared with the same quarter of the previous year, seasonally adjusted GDP decreased by 3.1 % in the euro area and by 2.5 % in the EU-27 in the first quarter of 2020, after +1.0 % in the euro area and +1.2 % in the EU-27 in the previous quarter. These data on employment provide a picture of labour input consistent with the output and income measure of national accounts. The two remaining activities both recorded smaller falls in their share of output: real estate activities’ share fell 0.1 percentage points to 10.8 % and thereby moved from fourth to fifth largest activity; the second smallest contribution (ahead of agriculture, forestry and fishing) came from the arts, entertainment and other services, whose share dropped 0.3 percentage points to 3.3 %. Structural change is, at least in part, a result of phenomena such as technological change, developments in relative prices, outsourcing and globalisation, often resulting in manufacturing activities and some services (those that can be provided remotely, such as online or through call centres) being moved to lower labour-cost regions, both within and outside the EU-27. Leaving aside those Member States with a break in series (see Table 4), the largest increases (in percentage terms) for both of these real labour productivity measures were recorded in Romania, Bulgaria, Estonia and Latvia, while the lowest (aside from Greece) were recorded in Luxembourg and Italy.
National accounts are also used to determine EU resources, with the basic rules laid down in a Council Decision. Relative to GDP, Hungary and Cyprus (both 5.8 %; 2018 data) had the highest ratios of public investment to GDP, while investment by the business sector was highest in Ireland (19.1 %; 2018 data), Czechia (16.9 %) and Sweden (16.4 %) and by households was highest in Finland (7.2 %) and Cyprus (7.1 %; 2018 data). Data information. Aside from Luxembourg, average household consumption expenditure per inhabitant in PPS terms was also relatively high in 2019 in Austria (PPS 19 990) and Germany (PPS 19 450). The catalogue contains the original data which have been used for the production of the key indicators. In 2019, GDP in the EU-27 reached PPS 13.9 trillion (PPS 13 900 The euro area accounted for 81.1 % of the EU-27’s GDP in 2019 (when measured in PPS terms), down from 83.2 % in 2009. The annual average growth rates of the EU-27 and the euro area (EA-19) between 2009 and 2019 were 1.6 % and 1.4 % respectively (see Table 1). Most Looking at GDP from the output side, Table 3 gives an overview of the relative importance of 10 economic activities (as defined by Between 2009 and 2019, industry’s share of EU-27 value added increased 0.7 percentage points to 19.7 %, thereby overtaking distributive trades, transport, accommodation and food services as the largest of these 10 activities; the share of total gross value added in distributive trades, transport, accommodation and food services was identical in 2009 and 2019 at 19.3 %.
Eurostat collects GDP and employment data in the framework of ESA 2010. GDP was chosen as a basic indicator of economic growth as it expresses the total value of goods and services produced in the country (the components of GDP include personal consumption expenditures plus business investment plus government spending plus (exports minus imports)). Among these, the fastest overall growth between 2009 and 2019 was for information and communications, as output in 2019 was 48.9 % higher than in 2009; the slowest growth was for public administration, defence, education, human health and social work activities (up 9.5 % overall).
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