Last update : Spring 2022 Economic Forecast (16/05/2022)

Note on presentational changes to AMECO Online

The presentation of AMECO Online has been changed in two aspects on 04/04/2022:

  1. Until now, only the latest AMECO release was available via the online interface. Earlier vintages could be consulted via text files in the archive section at AMECO Archive. These older AMECO vintages are now also available via the interface. The latest available (current) or earlier vintage versions can be selected on the first selection screen. The AMECO Online manual (AMECO Online manual) has been updated accordingly. Note that the zipped text files will continue to be available.
  2. Until now, if you were not familiar with the variable codes (e.g. UVGD for nominal GDP), the labels used in the field “variable” (e.g. “at current prices”) often required the name of the chapter and sub-chapter to fully identify the macro-economic concept. These labels have been extended to include information from the chapter and sub-chapter labels in order to allow easier identification of variables. Note that all variable codes and positions in the tree remain unchanged.

Please further note that data has not changed, i.e. data shown is still the one released with the Commission’s macro-economic forecasts in November 2021. The next data update is foreseen with the release of the spring forecast in May 2022.

Feedback on those changes can be provided to ECFIN-AMECO@ec.europa.eu

Database

The database contains data for the EU, the euro area, EU Member States, candidate countries and other OECD countries, for a total of over 40 countries. Data is organized in eighteen chapters, from population and employment via main national accounts aggregates such as gross domestic product to sector accounts and the cyclical adjustment of public finance variables.

To ensure that the Commission's analyses are verifiable and transparent to the public, AMECO data is made available free of charge.

Data can be accessed via:

DownloadPDF - 4.3 MB

Forecasts

AMECO is updated with every full release of macro-economic forecasts by the Commission. In between the full forecast releases, AMECO is not updated. For results of the interim forecast exercises, please consult the Economic forecasts.

Until the autumn forecast 2020 release, on the occasion of an update, AMECO data was also packed in four documents that accompany the forecast release:

  1. The Statistical annex to European Economy, which gives long time series for a selection of important macro-economic variables, both by variable and by country. (NB: The data overlaps partially with the tables in the statistical annex included within the main forecast document.)

    General Government Data, which gives more detail on series from the general government sector, for size reasons split in two parts:
  2. Part I: Tables by country
  3. Part II: Tables by series
  4. Data on the cyclical adjustment of Budget Balances, which are important for fiscal surveillance.

Your comments/feedback are welcome.

Explanatory note

Time series

Data for Member States and candidate countries are based on the ESA 2010 system for the last period and on ESA 95 and ESA 79 for the earlier years. Data for other OECD countries are based on the SNA 2008.

Where appropriate, discontinuities of the levels of these series have been removed by applying the growth rates of the old series to the levels of the new series.

Data sources

The main data source is Eurostat (the Statistical Office of the European Commission), complemented, where necessary, by other appropriate national and international sources. Authoritative official statistics are available from Eurostat's online database, including the latest revisions to historical data.

Data in national currency for the euro area countries

Starting from 2002, euro area countries publish national series in EUR. National currency data for all years prior to the switch of the country to euro have been converted using the irrevocably fixed euro conversion rate. For presentation purposes, the currency denomination has changed, with the prefix EURO and the ISO code of the former currency (e.g. EURO-BEF for Belgium). This approach conserves the historical continuity of national series. However, cross country comparisons and aggregations should continue to be based only on historical series established in ECU up to 1998 and their statistical continuation in EUR from 1999 onwards. Exchange rates and purchasing power parities have also been converted in the same manner.

Forecasts

Directorate General ECFIN produces, under its own responsibility, short term economic forecasts twice a year, in the Spring and in the Autumn. These forecasts are included in AMECO.

Contact persons

ECFIN AMECO