First published on
20 April 2021
Technical Paper 047

European Business Cycle Indicators – 1st Quarter 2021


The special topic in this EBCI explores the Commission’s consumer survey data to examine to what extent excess savings accumulated during the COVID-19 crisis can be expected to be spent and how forcefully private consumption may recover, once the containment measures are lifted and uncertainty eases.


European Commission

Information and identifiers

Technical Paper 047. April 2021. Brussels. PDF. 32p. Tab. Graph. Bibliogr. Free.

KC-BF-21-003-EN-N (online)                         
ISBN 978-92-76-28509-0 (online)                 
ISSN 2443-8049 (online)
doi:10.2765/784302 (online)                           

JEL classification: O


European Economy Technical Papers are reports and data compiled by the staff of the European Commission’s Directorate-General for Economic and Financial Affairs.


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