Save Eurozone Real GDP
19 out of 28 EU members use Euro as their official currency, and these countries are also known as the Eurozone.
Euro began circulating in Europe in 2002 and stimulated trade activities in the region. After numerous eastern European countries joined the political and economic union in 2004, their rapid economic growth helped boost the united economy until the Financial Crisis in 2008. The European Commission adopted European Economic Recovery Plan in November 2008 and implemented loose monetary and fiscal policies to revive the economy. It was not until 2010 did the economy recover from the worldwide crisis. Later in 2012, however, the economy slipped into recession again due to European debt crisis.
During 2014 to 2015, European Central Bank announced negative interest rates and deepened its asset-purchasing program in an attempt to boost the economy and inflation.
ECB officially ended QE program late 2018 and Eurozone GDP annual growth slowed down to 1% to 2% as the global economy slowed down.
*SCA: seasonally and calendar adjusted
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