The Gross Domestic Product (GDP) in European Union contracted 2.70 percent in the first quarter of 2020 over the same quarter of the previous year.
GDP Annual Growth Rate in European Union averaged 1.73 percent from 1996 until 2020, reaching an all time high of 4.60 percent in the second quarter of 2000 and a record low of -5.50 percent in the first quarter of 2009. This page provides the latest reported value for - European Union GDP Annual Growth Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. European Union GDP Annual Growth Rate - values, historical data and charts - was last updated on July of 2020.
GDP Annual Growth Rate in European Union is expected to be -14.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in European Union to stand at -0.80 in 12 months time. In the long-term, the European Union GDP Annual Growth Rate is projected to trend around 4.90 percent in 2021 and 2.30 percent in 2022, according to our econometric models.