Production in construction up by 4.0% in euro area and 2.9% in EU

In June 2020, a month marked by some relaxation of COVID-19 containment measures in many Member States, the seasonally adjusted production in the construction sector rose by 4.0% in the euro area and by 2.9% in the EU, compared with May 2020, according to first estimates from Eurostat, the statistical office of the European Union. In May 2020, production in construction increased by 29.4% in the euro area and by 22.3% in the EU.

Annual inflation up to 0.4% in the euro area

In July 2020, a month in which COVID-19 containment measures continued to be lifted, the euro area annual inflation rate was 0.4% in July 2020, up from 0.3% in June. A year earlier, the rate was 1.0%. European Union annual inflation was 0.9% in July 2020, up from 0.8% in June. A year earlier, the rate was 1.4%. These figures are published by Eurostat, the statistical office of the European Union.

GDP and employment flash estimates for the second quarter of 2020: GDP down by 12.1% and employment down by 2.8% in the euro area

GDP growth in the euro area and EU: In the second quarter 2020, still marked by COVID-19 containment measures in most Member States, seasonally adjusted GDP decreased by 12.1% in the euro area and by 11.7% in the EU compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. These were by far the sharpest declines observed since time series started in 1995. In the first quarter of 2020, GDP had decreased by 3.6% in the euro area and by 3.2% in the EU.

Euro area international trade in goods surplus €21.2 bn

Euro area: In June 2020, the COVID-19 containment measures widely introduced by the Member States continued to have a noticeable impact on international trade in goods, although there are signs of improvement compared to the previous month. The first estimate for euro area exports of goods to the rest of the world in June 2020 was €170.3 billion, a decrease of 10.0% compared with June 2019 (€189.3 bn). Imports from the rest of the world stood at €149.1 bn, a fall of 12.2% compared with June 2019 (€169.9 bn). As a result, the euro area recorded a €21.2 bn surplus in trade in goods with the rest of the world in June 2020, compared with +€19.4 bn in June 2019. Intra-euro area trade fell to €150.6 bn in June 2020, down by 7.3% compared with June 2019.

Industrial production up by 9.1% in both euro area and EU

In June 2020, a month marked by some relaxation of COVID-19 containment measures in many Member States, the seasonally adjusted industrial production rose by 9.1% in both euro area and EU, compared with May 2020, according to estimates from Eurostat, the statistical office of the European Union. In May 2020, industrial production rose by 12.3% in the euro area and by 11.6% in the EU.

Volume of retail trade up by 5.7% in euro area

In June 2020, a month marked by some relaxation of COVID-19 containment measures in many Member States, the seasonally adjusted volume of retail trade increased by 5.7% in the euro area and by 5.2% in the EU, compared with May 2020, according to estimates from Eurostat, the statistical office of the European Union. In May 2020, the retail trade volume increased by 20.3% in the euro area and by 18.3% in the EU. This means that retail trade volumes in both zones have returned to the levels recorded in February 2020, before the start of containment measures.

Industrial producer prices up by 0.7% in both euro area and EU

In June 2020, a fourth month still marked by COVID-19 containment measures in most Member States, industrial producer prices rose, compared with May 2020, by 0.7% in both the euro area and EU, according to estimates from Eurostat, the statistical office of the European Union. In May 2020, prices decreased by 0.6% in the euro area and by 0.5% in the EU.

Preliminary flash estimate for the second quarter of 2020: GDP down by 12.1% in the euro area and by 11.9% in the EU

In the second quarter 2020, still marked by COVID-19 containment measures in most Member States, seasonally adjusted GDP decreased by 12.1% in the euro area and by 11.9% in the EU, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. These were by far the sharpest declines observed since time series started in 1995. In the first quarter of 2020, GDP had decreased by 3.6% in the euro area and by 3.2% in the EU.

Euro area annual inflation up to 0.4%

In July 2020, a month in which COVID-19 containment measures continued to be lifted, Euro area annual inflation is expected to be 0.4%, up from 0.3% in June according to a flash estimate from Eurostat, the statistical office of the European Union.

Euro area unemployment at 7.8%

In June 2020, the month when COVID-19 containment measures started being phased out in most Member States, the euro area seasonally-adjusted unemployment rate was 7.8%, up from 7.7% in May 2020. The EU unemployment rate was 7.1% in June 2020, up from 7.0% in May 2020. These figures are published by Eurostat, the statistical office of the European Union.

Sharpest drop of household real consumption per capita in both euro area and EU

In the first quarter of 2020, when Member States began to widely introduce COVID-19 containment measures in March 2020, household real consumption per capita dropped by 3.0% in the euro area, after a decrease of 0.4% in the previous quarter. This decline is the highest since the beginning of the time series in 1999. Household real income per capita increased in the first quarter of 2020 by 1.1%, after a decrease of 1.1% in the fourth quarter of 2019.

Seasonally adjusted government deficit rose sharply to 2.2% of GDP in the euro area

In the first quarter of 2020, when COVID-19 containment measures began to be widely introduced by Member States, the seasonally adjusted general government deficit to GDP ratio stood at 2.2% in the euro area and 2.3% in the EU. This is a sharp increase in both areas in comparison with the fourth quarter of 2019 and the highest deficit recorded in the euro area since the second quarter of 2015.

Government debt up to 86.3% of GDP in euro area

At the end of the first quarter of 2020, the quarter in which COVID-19 containment measures began to be widely introduced by Member States, the government debt to GDP ratio in the euro area stood at 86.3%, compared with 84.1% at the end of the fourth quarter of 2019. In the EU, the ratio increased from 77.7% to 79.5%. Compared with the first quarter 2019, the government debt to GDP ratio fell in both the euro area (from 86.4% to 86.3%) and the EU (from 80.0% to 79.5%). The impacts of the containment measures as well as policy responses to the containment measures are expected to materialise fully in increased financing needs only in the second quarter of 2020.

Annual inflation up to 0.3% in the euro area

In June 2020, a month in which many COVID-19 containment measures have been gradually lifted, the euro area annual inflation rate was 0.3%, up from 0.1% in May. A year earlier, the rate was 1.3%. European Union annual inflation was 0.8% in June 2020, up from 0.6% in May. A year earlier, the rate was 1.6%. These figures are published by Eurostat, the statistical office of the European Union.

Production in construction up by 27.9% in euro area and 21.2% in EU

In May 2020, when Member States began easing the COVID-19 containment measures, the seasonally adjusted production in the construction sector rose by 27.9% in the euro area and by 21.2% in the EU, compared with April 2020, according to first estimates from Eurostat, the statistical office of the European Union. In April 2020, production in construction fell by 18.3% in the euro area and by 14.9% in the EU.

Euro area international trade in goods surplus €9.4 bn

Euro area: In May 2020, the COVID-19 containment measures widely introduced by the Member States continued to have a significant impact on international trade in goods. The first estimates for international trade in goods show that the results for both the euro area and the EU are considerably lower than those recorded in May 2019. In this release, Eurostat, the statistical office of the European Union, is publishing a set of data and graphs which help to capture the most recent developments in international trade in goods.

Industrial production up by 12.4% in euro area and 11.4% in EU

In May 2020, when Member States began easing the COVID-19 containment measures, the seasonally adjusted industrial production rose by 12.4% in the euro area and by 11.4% in the EU, compared with April 2020, according to estimates from Eurostat, the statistical office of the European Union. In April 2020, industrial production fell by 18.2% both in the euro area and in the EU.

EU population in 2020: almost 448 million

On 1 January 2020, the population of the European Union (EU) with 27 Member States was estimated at 447.7 million, down by 12.8% as compared with 513.5 million in 28 Member States on 1 January 2019. This decrease is mainly due to the withdrawal of the United Kingdom (on 1 February 2020), which led the population of the EU to decrease by 13%. The total EU27 population change was positive with 0.9 million more inhabitants during 2019, due to net migration.

Absences from work at record high

The first quarter 2020 is the first quarter in which the labour market across the European Union (EU) has been affected by COVID-19 measures taken by Member States. Employment and unemployment as defined by the ILO concept are, in this particular situation, not sufficient to describe all the developments taking place in the labour market. In this first phase of the crisis, active measures to contain employment losses led to absences from work rather than dismissals, and individuals could not search for work or were not available due to the containment measures, thus not counting as unemployed according to the ILO concept.

House prices up by 5.0% in the euro area

House prices, as measured by the House Price Index, rose by 5.0% in the euro area in the first quarter of 2020 compared with the same quarter of the previous year. This is the highest annual increase since the second quarter of 2007. In the EU house prices rose by 5.5% compared with the same quarter of the previous year. The data were not affected by the COVID-19 containment measures that Member States began to introduce during this period. These figures come from Eurostat, the statistical office of the European Union.

Volume of retail trade up by 17.8% in euro area

In May 2020, when Member States began easing the COVID-19 containment measures, the seasonally adjusted volume of retail trade increased by 17.8% in the euro area and by 16.4% in the EU, compared with April 2020, according to estimates from Eurostat, the statistical office of the European Union. In April 2020, the retail trade volume decreased by 12.1% in the euro area and by 11.4% in the EU.

EU current account surplus €59.9 bn

In the first quarter of 2020, when COVID-19 containment measures began to be widely introduced by Member States, the EU seasonally adjusted current account of the balance of payments recorded a surplus of €59.9 billion (1.8% of GDP), down from a surplus of €78.6 billion (2.2% of GDP) in the fourth quarter of 2019 and from a surplus of €102.0 billion (3.0% of GDP) in the first quarter of 2019, according to estimates released by Eurostat, the statistical office of the European Union.

Business profit share recorded sharpest drop to 37.9% while business investment is slightly down to 25.5% in the euro area

In the first quarter of 2020, when Member States began to widely introduce COVID-19 containment measures in March 2020, the business profit share dropped to 37.9% in the euro area, compared with 39.6% in the previous quarter. This decline of the business profit share is the highest since the beginning of the series in 1999.

Household saving rate all time high at 16.9% in the euro area while household investment rate down to 8.7%

The household saving rate in the euro area was at 16.9% in the first quarter of 2020, when Member States began to widely introduce COVID-19 containment measures in March 2020, compared with 12.7% in the fourth quarter of 2019. This was the highest increase since the beginning of the series in 1999.

Industrial producer prices down by 0.6% in euro area

In May 2020, a third month still marked by COVID-19 containment measures in most Member States, industrial producer prices fell, compared with April 2020, by 0.6% in the euro area and by 0.5% in the EU, according to estimates from Eurostat, the statistical office of the European Union. In April 2020, prices decreased by 2.0% in the euro area and by 1.9% in the EU.

Euro area unemployment at 7.4%

In May 2020, a third month marked by COVID-19 containment measures in most Member States, the euro area seasonally-adjusted unemployment rate was 7.4%, up from 7.3% in April 2020. The EU unemployment rate was 6.7% in May 2020, up from 6.6% in April 2020. These figures are published by Eurostat, the statistical office of the European Union.

Euro area annual inflation up to 0.3%

In June 2020, a month in which many COVID-19 containment measures have been gradually lifted, Euro area annual inflation is expected to be 0.3%, up from 0.1% in May according to a flash estimate from Eurostat, the statistical office of the European Union.

Debt mainly held by resident financial sector in more than half of the EU Member States

Significant differences can be observed across the European Union (EU) regarding the sector in which government debt is held. Among Member States for which data are available, the share of government debt held by the (resident) financial corporations sector at the end of 2019 was highest in Denmark (74%), followed by Sweden (73%), Croatia (67%) and Italy (63%). In contrast, the largest proportion of debt held by non-residents was recorded in Cyprus (80%), ahead of Lithuania (76%), Latvia (74%) and Estonia (70%).

How has the EU progressed towards the Sustainable Development Goals?

The von der Leyen Commission has made sustainability an overriding political priority for its mandate. All Sustainable Development Goals (SDGs) feature in one or more of the six headline ambitions for Europe, announced in the Political Guidelines, making all Commission work streams, policies and strategies conducive to achieving the SDGs. In December 2019, the Commission presented ‘The European Green Deal’, the new EU growth strategy, aiming to transform the Union into a modern, resource-efficient and competitive economy where climate and environmental challenges are addressed and turned into opportunities, while making the transition just and inclusive for all.

Price levels varied by almost one to three across the EU Member States

In 2019, the year before COVID-19 containment measures began to be widely introduced by Member States, price levels for consumer goods and services differed widely in the European Union of 27 Member States (EU). Denmark (141% of the EU average) had the highest price level, followed by Ireland (134%), Luxembourg (131%), Finland (127%) and Sweden (121%).

Wide variation of consumption per capita across EU Member States

Actual Individual Consumption (AIC) is a measure of material welfare of households. Based on first preliminary estimates for 2019, the year before COVID-19 containment measures began to be widely introduced by Member States, AIC per capita expressed in Purchasing Power Standards (PPS) varied from 59% to 135% of the European Union (EU) average across the 27 Member States.

Production in construction down by 14.6% in euro area and 11.7% in EU

In April 2020, the COVID-19 containment measures widely introduced by Member States continued to have a significant impact on production in construction, as the seasonally adjusted production in the construction sector decreased by 14.6% in the euro area and by 11.7% in the EU, compared with March 2020, according to first estimates from Eurostat, the statistical office of the European Union. In March 2020, production in construction fell by 15.7% in the euro area and by 13.6% in the EU. Overall, production in construction in the euro area and EU has fallen to the lowest level recorded since the start of the series in 1995.

Annual inflation down to 0.1% in the euro area

In May 2020, a month still marked by COVID-19 containment measures, euro area annual inflation rate was 0.1%, down from 0.3% in April. A year earlier, the rate was 1.2%. The European Union annual inflation was 0.6% in May 2020, down from 0.7% in April. A year earlier, the rate was 1.6%. These figures are published by Eurostat, the statistical office of the European Union.

Annual growth in labour costs at 3.4% in euro area

In the first quarter of 2020, the quarter when COVID-19 containment measures began to be widely introduced by Member States, hourly labour costs rose by 3.4% in the euro area and by 3.7% in the EU, compared with the same quarter of the previous year. In the fourth quarter of 2019, hourly labour costs increased by 2.3% and 2.7% respectively.

Euro and EU job vacancy rate both at 1.9%

In the first quarter of 2020, the quarter when COVID-19 containment measures began to be widely introduced by Member States, the job vacancy rate in the euro area was 1.9%, down from 2.2% in the previous quarter and from 2.3% in the first quarter of 2019, according to figures published by Eurostat, the statistical office of the European Union. In the EU, the job vacancy rate was also 1.9% in the first quarter of 2020, down from 2.1% in the previous quarter and from 2.3% in the first quarter of 2019.

Euro area international trade in goods surplus €2.9 bn

Euro area: In April 2020, the COVID-19 containment measures widely introduced by the Member States continued to have a significant impact on international trade in goods. The first estimate for euro area exports of goods to the rest of the world in April 2020 was €136.6 billion, a decrease of 29.3% compared with April 2019 (€193.3 bn). Imports from the rest of the world stood at €133.7 bn, a fall of 24.8% compared with April 2019 (€177.8 bn). As a result, the euro area recorded a €2.9 bn surplus in trade in goods with the rest of the world in April 2020, compared with +€15.5 bn in April 2019. Intra-euro area trade fell to €112.4 bn in April 2020, down by 32.2% compared with April 2019.

Industrial production down by 17.1% in euro area and 17.3% in EU

In April 2020, the COVID-19 containment measures widely introduced by Member States continued to have a significant impact on industrial production. The seasonally adjusted industrial production fell by 17.1% in the euro area and by 17.3% in the EU, compared with March 2020, according to estimates from Eurostat, the statistical office of the European Union. These are the largest monthly falls recorded since the start of the series, significantly higher than the 3% to 4% drops seen in late 2008 and early 2009 during the financial crisis.

GDP down by 3.6% and employment down by 0.2% in the euro area

GDP growth in the euro area and EU: Seasonally adjusted GDP decreased by 3.6% in the euro area and by 3.2% in the EU during the first quarter of 2020, compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. These were the sharpest declines observed since time series started in 1995. In March 2020, the final month of the period covered, COVID-19 containment measures began to be widely introduced by Member States. In the fourth quarter of 2019, GDP had grown by 0.1% in both the euro area and the EU.

Volume of retail trade down by 11.7% in euro area

In April 2020, the COVID-19 containment measures widely introduced by Member States again had a significant impact on retail trade, as the seasonally adjusted volume of retail trade decreased by 11.7% in the euro area and by 11.1% in the EU, compared with March 2020, according to estimates from Eurostat, the statistical office of the European Union. In March 2020, the retail trade volume decreased by 11.1% in the euro area and by 10.1% in the EU.

Euro area unemployment at 7.3%

In April 2020, the second month after COVID-19 containment measures were implemented by most Member States, the euro area seasonally-adjusted unemployment rate was 7.3%, up from 7.1% in March 2020. The EU unemployment rate was 6.6% in April 2020, up from 6.4% in March 2020. These figures are published by Eurostat, the statistical office of the European Union.

Industrial producer prices down by 2.0% in euro area

In April 2020, the second month after COVID-19 containment measures were implemented by most Member States, industrial producer prices fell by 2.0% in the euro area and by 1.9% in the EU, compared with March 2020, according to estimates from Eurostat, the statistical office of the European Union. In March 2020, prices decreased by 1.5% in the euro area and by 1.4% in the EU.

A statistical portrait of the European Union compared with G20 countries

Today Eurostat, the Statistical Office of the European Union, publishes the latest edition of the publication “The EU in the world”, which provides a portrait of the European Union (EU), considered as a single entity, in comparison with the 16 non-EU Group of Twenty countries (G20).

Euro area annual inflation down to 0.1%

In May 2020, a month still marked with COVID-19 containment measures, euro area annual inflation is expected to be 0.1%, down from 0.3% in April according to a flash estimate from Eurostat, the statistical office of the European Union.

Annual inflation down to 0.3% in the euro area

In April 2020, a month marked by COVID-19 containment measures in all countries, the euro area annual inflation rate was 0.3%, down from 0.7% in March. A year earlier, the rate was 1.7%. European Union annual inflation was 0.7% in April 2020, down from 1.2% in March. A year earlier, the rate was 1.9%. These figures are published by Eurostat, the statistical office of the European Union.

China, US and EU are the largest economies in the world

In 2017, the Gross Domestic Product (GDP) of the European Union with 27 Member States (EU) represented 16.0% of world GDP, expressed in Purchasing Power Standards (PPS). China and the United States were the two largest economies, with shares of 16.4% and 16.3% respectively. Other countries (outside the EU) with a share larger than 1% are shown in the visual below.

Production in construction down by 14.1% in euro area

In March 2020, the COVID-19 containment measures widely introduced by Member States had a significant impact on production in construction, as the seasonally adjusted production in the construction sector decreased by 14.1% in the euro area and by 12.0% in the EU, compared with February 2020, according to first estimates from Eurostat, the statistical office of the European Union. In February 2020, production in construction fell by 0.5% in the euro area and by 0.2% in the EU.

Euro area international trade in goods surplus €28.2 bn

Euro area: In March 2020, the COVID-19 containment measures widely introduced by the Member States had a significant impact on international trade in goods. The first estimate for euro area (EA19) exports of goods to the rest of the world in March 2020 was €193.3 billion, a decrease of 6.2% compared with March 2019 (€206.1 bn). Imports from the rest of the world stood at €165.0 bn, a fall of 10.1% compared with March 2019 (€183.5 bn). As a result, the euro area recorded a €28.2 bn surplus in trade in goods with the rest of the world in March 2020, compared with +€22.7 bn in March 2019. Intra-euro area trade fell to €153.3 bn in March 2020, down by 12.1% compared with March 2019.

GDP down by 3.8% and employment down by 0.2% in the euro area

GDP growth in the euro area and EU: Seasonally adjusted GDP decreased by 3.8% in the euro area and by 3.3% in the EU during the first quarter of 2020, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. These were the sharpest declines observed since time series started in 1995. In March 2020, the final month of the period covered, COVID-19 containment measures began to be widely introduced by Member States. In the fourth quarter of 2019, GDP had grown by 0.1% in the euro area and by 0.2% in the EU.

Industrial production down by 11.3% in euro area

In March 2020, the COVID-19 containment measures widely introduced by Member States had a significant impact on industrial production, as the seasonally adjusted industrial production fell by 11.3% in the euro area and by 10.4% in the EU, compared with February 2020, according to estimates from Eurostat, the statistical office of the European Union. In February 2020, industrial production fell by 0.1% in the euro area and remained stable in the EU.

Household energy prices in the EU increased compared with 2018

On average, household electricity prices in the European Union of 27 Member States (EU) increased to €21.6 per 100 kWh. This represents a 1.3% increase between the second half of 2018 and the second half of 2019, similar to the overall inflation rate (HICP) over the same period. Across the EU Member States, household electricity prices in the second half of 2019 ranged from €10 per 100 kWh in Bulgaria to around €30 per 100 kWh in Denmark, Belgium and Germany.