Description
The European Union Real Gross Domestic Product (GDP) in US Dollars is released by Eurostat, the statistical office of the European Union. This indicator measures the economic performance of the EU by adjusting GDP for inflation, providing a more accurate picture of economic growth. A higher Real GDP indicates a stronger economy, while a lower Real GDP suggests a weaker economy. It is a key indicator for assessing the overall economic health and growth of the European Union.
Real GDP is calculated by adjusting Nominal GDP for inflation using the GDP deflator. It comprises the sum of all goods and services produced within the EU, including consumption, investment, government spending, and net exports (exports minus imports).
The data is updated quarterly, with preliminary estimates released approximately 30 days after the end of the quarter and final estimates released around 60 days after the quarter's end.