Private Consumption in Euro Area
The Euro Area economy recorded average private consumption growth of 1.0% in the decade to 2022, below the 1.7% average for Major Economies. In 2022, private consumption growth was 4.2%. For more private consumption information, visit our dedicated page.
Euro Area Private consumption Chart
Note: This chart displays Private Consumption (annual variation in %) for Euro Area from 2013 to 2022.
Source: EUROSTAT.
Euro Area Private consumption Data
| 2018 | 2019 | 2020 | 2021 | 2022 | |
|---|---|---|---|---|---|
| Private Consumption (ann. var. %) | 1.5 | 1.4 | -7.8 | 4.3 | 4.2 |
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects European private consumption projections for the next ten years from a panel of 34 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable private consumption forecast available for European private consumption.
Download one of our sample reports to visualize what a Consensus Forecast is and see our European private consumption projections.
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