In 2023, the gross domestic product in the European Union grew by 0.8 percent, as economic stagnation and high inflation caused by the Russia-Ukraine war impacted European economies. The European Commission forecasts that the European economy will have grown by 0.9 percent in 2024, continuing the trend registered in the previous year. This represents slow economic growth after the post-pandemic resurgence, yet avoids the recession many commentators warned the EU might slip into. Growth is forecast to increase again in 2025, climbing to 1.5 percent—a figure considered low by historical EU standards, excluding periods of economic crisis.
Average annual growth rate of gross domestic product in the European Union from 1996 to 2024
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European Commission. (November 1, 2024). Average annual growth rate of gross domestic product in the European Union from 1996 to 2024 [Graph]. In Statista. Retrieved December 23, 2024, from https://www.statista.com/statistics/1070317/eu-gdp-growth-rate/
European Commission. "Average annual growth rate of gross domestic product in the European Union from 1996 to 2024." Chart. November 1, 2024. Statista. Accessed December 23, 2024. https://www.statista.com/statistics/1070317/eu-gdp-growth-rate/
European Commission. (2024). Average annual growth rate of gross domestic product in the European Union from 1996 to 2024. Statista. Statista Inc.. Accessed: December 23, 2024. https://www.statista.com/statistics/1070317/eu-gdp-growth-rate/
European Commission. "Average Annual Growth Rate of Gross Domestic Product in The European Union from 1996 to 2024." Statista, Statista Inc., 1 Nov 2024, https://www.statista.com/statistics/1070317/eu-gdp-growth-rate/
European Commission, Average annual growth rate of gross domestic product in the European Union from 1996 to 2024 Statista, https://www.statista.com/statistics/1070317/eu-gdp-growth-rate/ (last visited December 23, 2024)
Average annual growth rate of gross domestic product in the European Union from 1996 to 2024 [Graph], European Commission, November 1, 2024. [Online]. Available: https://www.statista.com/statistics/1070317/eu-gdp-growth-rate/
