Europe’s economies
CurrencyEconomyGDP per personUnemploymentYouth unemploymentDebtPublic debtBudget balancePrimary balanceGrowthLatest GDP change2017 GDP forecast2018 GDP forecast
Source: The Economist
Source: Eurostat
Source: Eurostat
*15- to 24-year-olds
Source: Eurostat
Source: European Commission
Source: European Commission
Source: European Commission
*Q3 2016 or latest
Source: Eurostat
Source: European Commission
Source: European Commission
Our interactive overview of European GDP, debt and jobs
THE economy of the 19-country-strong euro area has expanded at a moderate pace during the first three quarters of 2016. In the first three months of 2015, quarterly growth reached as high as a (still modest) 0.8%; that rate slackened to 0.5% in the first quarter of 2016 and sits at 0.4% over the past year.
The slowdown suggests that Europe is still struggling to break out of its post-euro-crisis doldrums. Political uncertainty, slower economic performance outside the EU and weak global trade continue to weigh on growth. The fillip of cheap energy caused by the collapse of oil prices—which boosted consumer spending in much the same way as a tax cut—has largely come to an end. And while headline unemployment figures have been declining, plenty of slack remains in the labour market, raising questions about the strength of the recovery. The European Central Bank’s programme of quantitative easing–creating money to buy financial assets–is set to carry on until March 2017, and may continue beyond that date if inflation remains low.
Overall the outlook for growth in 2017 is highly uncertain. Britain’s looming departure from the EU will likely be the largest source of volatility. Protectionist trade policies by the United States under incoming president Donald Trump could also have a chilling effect on European economic growth.
Our interactive graphic (updated November 16th 2016) enables readers to inspect the health of European economies (including the nine member states of the European Union that do not belong to the euro) in a variety of ways, including data on jobs and public finances as well as GDP.