Eurostat

• The European Union's economic output contracted in the first quarter of 2026, according to data released by Eurostat on July 1, 2026. • The chain-linked volumes index dropped from 128.669 in Q4 2025 to 120.654 in Q1 2026, while nominal GDP fell to €4,160,507.4 million. • This decline indicates a downturn in the EU's overall economic activity and a reduction in the total value of goods and services produced.

• The European Union reported the sale of €414 billion worth of high-tech products in 2024, according to data from Eurostat. • These figures are part of the 2026 edition of "Key figures on European business," which tracks business activities, investment, productivity, and technology across EU and EFTA countries. • This data is critical for monitoring the EU's global competitiveness and its capacity for technological innovation and industrial growth.

• Eurostat's flash estimate indicates that annual inflation in the Euro area is expected to drop to 2.8% in June 2026, down from 3.2% in May. • Energy remains the highest driver of inflation at an expected 8.7%, though this is a decrease from 10.8% in the previous month. • Other key components also showed declines, with services falling to 3.2% and food, alcohol, and tobacco dropping to 1.6%.

• Eurostat reports that the severe material and social deprivation rate for EU youth (aged 15-29) remained unchanged at 5.8% in 2025, matching the 2024 figure. • This rate is slightly lower than the 6.3% deprivation rate observed across the total EU population. • Significant regional disparities exist, with Romania (15.1%), Greece (14.7%), and Bulgaria (14.0%) recording the highest shares of deprived youth.

• Eurostat released 2025 data on household material welfare, showing that actual individual consumption (AIC) per capita across the 27 EU countries ranges from 73% to 145% of the EU average. • Luxembourg, Ireland, and the Netherlands reported the highest GDP per capita, while Greece, Bulgaria, and Latvia recorded the lowest levels. • The report emphasizes that AIC is a superior indicator of material welfare compared to GDP because it accounts for all goods and services used by households, including those provided by governments and nonprofits.

• Eurostat released the June edition of the European Statistical Monitor, a dashboard providing monthly and quarterly indicators on the EU's economy, environment, business, health, and work. • Key economic data shows employment reaching a historic high and labour market slack decreasing, while unemployment and job vacancy rates remained steady. • Mixed business trends were reported, with a mild increase in industrial production contrasted by a decline in retail trade volume and economic sentiment remaining below its long-term average.

• EU household energy consumption fell to 9.54 million terajoules in 2024, marking a 0.2% decrease from 2023 and the third consecutive year of decline since a 2021 peak of 10.98 million terajoules. • The residential sector accounted for 26.0% of the EU's total final energy consumption in 2024. • Natural gas remained the primary energy source for households at 29.4%, followed by electricity at 26.9% and renewables/biofuels at 22.8%.

• Eurostat released an update to the EXT_TEC03 trade dataset on June 1, 2026, detailing trade performance for the EU and its member states. • Total EU trade decreased from 284.63 billion euros in 2023 to 270.04 billion euros in 2024. • Major economies, specifically Germany and France, were among the member states that experienced declines in trade volume.

• Eurostat has released a fully revamped edition of its "Key figures on European business" report to provide a comprehensive snapshot of EU business activity. • The updated publication features a more streamlined structure and introduces new indicators to improve data accessibility and relevance. • This overhaul matters as it ensures policymakers and analysts have the most up-to-date and comprehensive data on the European business landscape.