Europe Radar · Quarterly close · Q4 2025
26 quarterly indicators with Q4 2025 data for most countries.
Download the PDF report Basic
Key points
- Real GDP, year-on-year change (quarterly): The EU-27 stands at 1.5% (-0.3 pp on a year earlier). Spain, 2.8%, ranking 12 of 36. The highest value is Malta (7.8%) and the lowest Iceland (-1.3%).
- Employment rate (20–64): The EU-27 stands at 76.2% (+0.3 pp on a year earlier). Spain, 72.9%, ranking 25 of 34. The highest value is Iceland (84.3%) and the lowest Türkiye (58.2%).
- Current account balance: The EU-27 stands at 2.2% (-0.2 pp on a year earlier). Spain, 2.6%, ranking 10 of 37. The highest value is Denmark (13.0%) and the lowest Montenegro (-35.9%).
- Nominal GDP (quarterly): The EU-27 stands at 4,974,852 M€ (+4.5% on a year earlier). Spain, 451,268 M€. The highest value is Germany (1,167,930 M€) and the lowest Montenegro (2,059 M€).
- Real GDP, chain-linked volume (quarterly): The EU-27 stands at 4,012,369 M€ (+1.5% on a year earlier). Spain, 361,778 M€. The highest value is Germany (925,756 M€) and the lowest Montenegro (1,432 M€).
- Household consumption, real year-on-year change: The EU-27 stands at 1.6% (-0.9 pp on a year earlier). Spain, 3.4%, ranking 10 of 36. The highest value is Bulgaria (9.5%) and the lowest Slovakia (-1.3%).
- Government consumption, real year-on-year change: The EU-27 stands at 2.0% (-0.7 pp on a year earlier). Spain, 2.7%, ranking 16 of 36. The highest value is Hungary (6.8%) and the lowest Romania (-13.2%).
- Gross fixed capital formation, real year-on-year change: The EU-27 stands at 3.2% (+4.6 pp on a year earlier). Spain, 5.4%, ranking 19 of 35. The highest value is Montenegro (18.5%) and the lowest Cyprus (-15.4%).
All indicators
| Indicator | EU-27 | Euro area | Spain | Highest | Lowest | Countries |
|---|---|---|---|---|---|---|
| GDP and national accounts | ||||||
| Nominal GDP (quarterly) M€ | 4,974,852 M€ | 4,170,990 M€ | 451,268 M€ | Germany 1,167,930 M€ | Montenegro 2,059 M€ | 37 |
| Real GDP, year-on-year change (quarterly) % | 1.5% | 1.3% | 2.8% 12/36 | Malta 7.8% | Iceland -1.3% | 36 |
| Real GDP, chain-linked volume (quarterly) M€ (2020) | 4,012,369 M€ | 3,409,342 M€ | 361,778 M€ | Germany 925,756 M€ | Montenegro 1,432 M€ | 37 |
| Household consumption, real year-on-year change % | 1.6% | 1.5% | 3.4% 10/36 | Bulgaria 9.5% | Slovakia -1.3% | 36 |
| Government consumption, real year-on-year change % | 2.0% | 1.7% | 2.7% 16/36 | Hungary 6.8% | Romania -13.2% | 36 |
| Gross fixed capital formation, real year-on-year change % | 3.2% | 3.2% | 5.4% 19/35 | Montenegro 18.5% | Cyprus -15.4% | 35 |
| Exports, real year-on-year change % | 2.8% | 2.6% | 1.2% 27/36 | Albania 11.5% | Montenegro -13.9% | 36 |
| Imports, real year-on-year change % | 3.7% | 3.8% | 4.4% 14/36 | Switzerland 12.6% | Denmark -5.6% | 36 |
| Prices | ||||||
| House prices index 2015 = 100 | 164.6 | 156.8 | 187.4 15/28 | Hungary 389.6 | Finland 98.0 | 28 |
| House prices, annual rate of change % | 5.4% | 5.1% | 12.9% 4/29 | Hungary 21.0% | Finland -2.6% | 29 |
| House sales, annual rate of change % | — | — | 1.6% 13/19 | Austria 24.0% | Luxembourg -31.3% | 19 |
| Sales of newly built dwellings, annual rate of change % | — | — | -3.7% 6/15 | Hungary 50.0% | Luxembourg -62.6% | 15 |
| Sales of existing dwellings, annual rate of change % | — | — | 2.2% 12/17 | Austria 22.3% | Bulgaria -28.5% | 17 |
| Government | ||||||
| Government debt (quarterly) % of GDP | 81.8% | 87.7% | 100.7% 24/28 | Greece 146.1% | Estonia 24.1% | 28 |
| Net issuance of government debt securities % of GDP | — | 0.5% | -1.3% 19/27 | Latvia 14.3% | Portugal -19.0% | 27 |
| Government deficit (−) or surplus (+) (quarterly) % of GDP | -3.3% | -2.6% | -4.6% 18/30 | Ireland 6.3% | Poland -11.5% | 30 |
| Business and activity | ||||||
| Residential building permits (useful floor area) index 2021 = 100 | 75.2 | 75.1 | 90.9 15/35 | Montenegro 1,082.0 | Luxembourg 37.6 | 35 |
| Labour market and productivity | ||||||
| Employment rate (20–64) % of population | 76.2% | 75.8% | 72.9% 25/34 | Iceland 84.3% | Türkiye 58.2% | 34 |
| Employed persons (15–74) thousand persons | 208,486 | 165,348 | 22,443 | Germany 42,729 | Iceland 222 | 34 |
| Labour costs (B–S) index 2020 = 100 | — | — | 122.6 22/26 | Bulgaria 197.3 | Finland 107.8 | 26 |
| Job vacancy rate (B–S) % | 2.0% | 2.2% | 0.9% 26/31 | Netherlands 3.9% | Romania 0.6% | 31 |
| External sector and financing | ||||||
| Current account balance % of GDP | 2.2% | 2.2% | 2.6% 10/37 | Denmark 13.0% | Montenegro -35.9% | 37 |
| Goods balance % of GDP | 2.0% | 2.1% | -2.8% 19/37 | Ireland 29.0% | Montenegro -46.3% | 37 |
| Services balance % of GDP | 0.6% | 0.7% | 5.8% 12/37 | Luxembourg 31.9% | Switzerland -3.2% | 37 |
| Net international investment position % of GDP | — | 10.3% | -42.7% 27/36 | Norway 381.4% | Greece -139.2% | 36 |
| Net direct investment % of GDP | 3.3% | 5.1% | 1.2% 10/37 | Luxembourg 420.6% | Montenegro -8.2% | 37 |
Previous reports
Q2 2026 · Q1 2026 · Q3 2025 · Q2 2025 · Q1 2025 · Q4 2024 · Q3 2024