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 Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt To GDP 81.60 81 81 81 80.4 79.8 percent
GDP Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
GDP Annual Growth Rate 2.40
percent
2 2 1.9 2.6 2.3
GDP 16397.98
USD Billion
16821 17086 17900 18500 18700
Gross Fixed Capital Formation 752481.60
EUR Million
758955 771325 766779 772046 800887
GDP Constant Prices 3592897.70
EUR Million
3598414 3620017 3643976 3669008 3806071
GDP Growth Rate 0.40
percent
0.5 0.5 0.7 0.4 0.7
GDP Per Capita 35632.22
USD
36210 36210 36210 36470 36750
GDP Per Capita Ppp 36198.35
USD
36300 36442 36584 37783 38159
LABOUR Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Unemployed Persons 17481.00
Thousand
17795 18032 18411 18830 18456
Long Term Unemployment Rate 3.20
percent
3.01 2.95 2.95 2.86 2.38
Labour Costs 114.20
Index Points
114 108 114 108 114
Unemployment Rate 7.10
percent
6.9 6.8 6.8 6.7 6
Wage Growth 2.40
percent
2.3 2.3 2.3 2.3 2.3
Youth Unemployment Rate 15.60
percent
16.1 16.38 16.65 16.81 16.71
Labor Force Participation Rate 58.00
percent
58.1 58.27 58.01 57.88 58.08
Part Time Employment 43030.10
Thousand
43526 43023 43353 43378 43993
Population 511.81
Million
513 513 513 514 516
Productivity 108.40
Index Points
106 104 107 105 106
Retirement Age Men 64.28
64.28 64.28 64.28 64.5 65
Retirement Age Women 63.44
63.44 63.44 63.44 63.7 64
Employed Persons 228781.80
Thousand
228597 228597 228597 228597 228597
Employment Change 0.20
percent
0.12 0.12 0.12 0.13 0.17
Full Time Employment 179933.90
Thousand
179805 179805 179805 179805 179805
PRICES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Core Consumer Prices 103.19
Index Points
104 104 104 103 107
Core Inflation Rate 0.90
percent
1.18 1.21 1.24 1.26 1.44
Inflation Rate 1.40
percent
1.9 1.8 1.7 1.1 2
Inflation Rate Mom 0.20
percent
0.02 0.08 0.06 0.07 0.08
Producer Prices 103.70
Index Points
103 104 105 106 110
Producer Prices Change 2.40
percent
1.8 1.9 2 2.2 2.2
GDP Deflator 108.60
Index Points
109 108 108 108 108
CPI Housing Utilities 102.54
Index Points
103 103 104 104 108
Food Inflation 2.20
percent
2.2 2.5 2.3 2.5 2.5
Consumer Price Index CPI 103.48
Index Points
104 104 105 104 109
TRADE Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Imports 160594.10
EUR Million
155350 157830 149440 165640 157100
Exports 172106.20
EUR Million
162400 159800 164200 176200 174200
Balance of Trade 11512.10
EUR Million
7050 1970 14760 10560 17100
GOVERNMENT Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Government Debt To GDP 81.60
percent
81 81 81 80.4 79.8
Government Budget -1.00
percent of GDP
-1.1 -1.1 -1.1 -0.9 -0.7
Government Debt 12504712.50
EUR Million
12700000 12700000 12700000 12900000 13200000
Government Spending 730256.30
EUR Million
739275 741192 744131 749243 777232
Government Spending To GDP 45.80
percent
45.7 45.7 45.7 45.4 45.5
Asylum Applications 38295.00
persons
16356 24537 21386 20169 21019
BUSINESS Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Industrial Production Mom 0.40
percent
0.01 0.04 0.06 0.07 0.07
Manufacturing Production 2.30
percent
5.55 5.59 5.61 5.62 5.62
Mining Production -2.40
percent
-6.25 -5.59 -5.68 -5.65 -5.66
Steel Production 15110.62
Thousand Tonnes
13490 13579 13539 13855 13905
Industrial Production 3.00
percent
2.95 2.79 2.73 2.7 2.68
Business Confidence 6.60
Index Points
0.61 -4.1 -7.75 -9.97 -5.49
Capacity Utilization 84.10
percent
83.62 83.45 83.34 83.28 83.17
Changes In Inventories 22040.90
EUR Million
18924 18855 18865 18864 18864
CONSUMER Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Personal Savings 10.34
percent
10.26 10.33 10.43 10.4 10.47
Retail Sales Mom -0.10
percent
0.1 0.13 0.12 0.12 0.11
Retail Sales Yoy 1.80
percent
2.66 2.73 2.74 2.72 2.72
Economic Optimism Index 112.30
109 110 113 114 112
Consumer Confidence -0.80
Index Points
-1.78 -2.76 -2.82 -2.28 -2.03
Consumer Spending 1981609.20
EUR Million
2007439 2016563 2019260 2033131 2109083
HOUSING Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Housing Index 110.71
Index Points
112 112 112 111 108
Home Ownership Rate 69.20
percent
69.23 69.21 69.18 69.11 68.75
Construction Output -1.30
percent
2.85 4.09 4.63 4.27 3.34
TAXES Actual Q2/18 Q3/18 Q4/18 Q1/19 2020
Personal Income Tax Rate 38.60
percent
38.6 38.6 38.6 38.6 38.6
Sales Tax Rate 21.50
percent
21.5 21.5 21.5 21.5 21.5
Corporate Tax Rate 21.30
percent
21.3 21.3 21.3 21.3 21.3