Description
The Euro Area Nominal Gross Domestic Product (Nominal GDP) is compiled and released by Eurostat, the statistical office of the European Union. This indicator measures the total market value of all final goods and services produced within the Euro Area, not adjusted for inflation. It is used to assess the economic performance of the Euro Area. A higher GDP indicates economic growth, while a lower GDP suggests economic contraction.
Nominal GDP is calculated by adding up the total value of all final goods and services produced within the Euro Area without adjusting for inflation. It comprises consumption, investment, government spending, and net exports (exports minus imports).
The data is updated quarterly, typically within 60 days of the end of the quarter.