European Union - Forecast - 2018-2020

This page has economic forecasts for European Union including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the European Union economy.


Overview Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt To GDP 83.50 82.8 82.8 82.8 82.8 82 percent
GDP Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
GDP Annual Growth Rate 2.60
percent
2.1 2 2 1.9 2.3
GDP 16397.98
USD Billion
15942 16277 16612 17900 18700
Gross Fixed Capital Formation 756200.90
EUR Million
760319 759286 756337 752213 692202
GDP Constant Prices 3576031.00
EUR Million
3597387 3613769 3625799 3634370 3630902
GDP Growth Rate 0.60
percent
0.6 0.5 0.5 0.7 0.7
GDP Per Capita 35632.22
USD
36210 36210 36210 36210 36750
GDP Per Capita Ppp 36198.35
USD
35970 36130 36290 36450 36723
LABOUR Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Unemployed Persons 17961.00
Thousand
17989 18016 18044 18071 18378
Long Term Unemployment Rate 3.30
percent
3.34 3.35 3.37 3.39 3.56
Labour Costs 107.00
Index Points
105 111 106 112 111
Unemployment Rate 7.30
percent
7.5 7.4 7.3 7.1 6.2
Wage Growth 2.10
percent
2.08 1.69 1.77 1.74 1.83
Youth Unemployment Rate 16.10
percent
15.88 15.84 15.91 16.05 17.98
Labor Force Participation Rate 58.20
percent
57.66 57.95 58.05 57.82 57.82
Part Time Employment 42681.60
Thousand
42625 42649 42599 42596 42410
Population 511.81
Million
513 513 513 513 516
Productivity 104.60
Index Points
105 105 104 106 105
Retirement Age Men 64.52
64 64 64 64 64
Retirement Age Women 62.63
63 63 63 63 63
Employed Persons 229533.20
Thousand
225945 226976 227515 226608 224829
Employment Change 0.30
percent
0.21 0.18 0.16 0.15 0.17
Full Time Employment 180980.90
Thousand
177657 178884 179577 177834 174512
PRICES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Core Consumer Prices 102.91
Index Points
103 103 103 103 103
Core Inflation Rate 1.20
percent
1.23 1.25 1.28 1.3 1.47
Inflation Rate 1.70
percent
2 1.9 1.8 1.7 2
Inflation Rate Mom 0.30
percent
0.13 0.14 0.11 0.12 0.12
Producer Prices 106.80
Index Points
115 115 117 120 130
Producer Prices Change 2.40
percent
3.2 3.4 3.3 3.2 2.8
GDP Deflator 108.00
Index Points
108 108 108 108 107
CPI Housing Utilities 102.04
Index Points
103 103 103 103 103
Food Inflation 2.60
percent
2.1 2.2 2.5 2.3 2.5
Consumer Price Index CPI 102.96
Index Points
103 103 103 103 103
TRADE Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Imports 146359.80
EUR Million
151953 151892 151465 151024 146129
Exports 160632.50
EUR Million
162083 161135 160360 159790 153810
Balance of Trade 14272.70
EUR Million
5767 3183 1485 111 -6738
GOVERNMENT Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Government Debt To GDP 83.50
percent
82.8 82.8 82.8 82.8 82
Government Budget -1.70
percent of GDP
-1.1 -1.1 -1.1 -1.1 -0.7
Government Debt 12392802.60
EUR Million
12400451 12284731 12169012 12053293 10248071
Government Spending 726658.80
EUR Million
729829 731247 732505 733792 741131
Government Spending To GDP 46.60
percent
46.61 46.56 46.5 46.45 46.75
Asylum Applications 19330.00
persons
17578 23861 26759 29396 41033
BUSINESS Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Industrial Production Mom 0.30
percent
0.19 0.14 0.11 0.09 0.06
Manufacturing Production 5.80
percent
5.2 4.06 3.03 2.26 1.1
Mining Production -5.30
percent
-2.39 -2.34 -2.19 -2.02 -1.61
Steel Production 13633.38
Thousand Tonnes
13929 13732 13767 13746 13650
Industrial Production 4.80
percent
4.36 3.41 2.46 1.73 1.03
Business Confidence 8.50
Index Points
7.54 4.64 0.96 -2.58 -4.62
Capacity Utilization 83.90
percent
83.73 83.76 83.38 82.88 80.98
Changes In Inventories 20171.00
EUR Million
15322 12350 10382 9066 10201
CONSUMER Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Personal Savings 10.09
percent
10.56 10.5 10.65 10.82 11.34
Retail Sales Mom -1.00
percent
0.1 0.09 0.13 0.12 0.12
Retail Sales Yoy 2.40
percent
2.33 2.29 2.22 2.14 1.69
Economic Optimism Index 114.70
114 112 109 106 101
Consumer Confidence 0.40
Index Points
0.11 -1.04 -2.45 -3.75 -9.93
Consumer Spending 1977022.70
EUR Million
1993463 2000682 2007231 2013213 2048376
HOUSING Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Housing Index 110.07
Index Points
110 110 110 109 91.26
Home Ownership Rate 69.20
percent
69.54 69.59 69.64 69.68 70.88
Construction Output 2.70
percent
1.95 1.53 1.22 0.99 0.32
TAXES Actual Q1/18 Q2/18 Q3/18 Q4/18 2020
Personal Income Tax Rate 38.44
percent
39 39 38 38 38
Sales Tax Rate 21.50
percent
21 21 21 21.54 21.54
Corporate Tax Rate 21.51
percent
22 22 21 21 20