+++ The EU-Monitor COVID-19 is no longer updated. Last update: June 2023. Current monthly data in the EU Business Cycle +++
The EU Member States are facing enormous challenges: The spread of the coronavirus (SARS-CoV-2) and the associated protective measures to contain the pandemic have had profound economic and social consequences all across Europe.
Economy and prices
Economic performance
The effects of the COVID-19 pandemic on economic output of European economies are evident: in 2020 the economic downturn was substantial in many areas.
Final consumption expenditure of private households
Closed shops, cancelled concerts, travel restrictions and a big increase in the number of people working from home all contributed to consumers spending less money on leisure, food, travel and mobility.
Economic sentiment
In April 2020, the economic sentiment indicator, which shows the economic climate in the European Union, fell by almost 29 points to 67.1 points. This was the sharpest decline since the survey began in 1985 and since then most EU countries have shown signs of recovery.
Consumer confidence
EU consumer confidence in the EU also fell in April 2020 to its lowest level since the financial and economic crisis of 2009. Sentiment has been even worse since the start of the war in Ukraine.
Prices
The consumer price index, which is harmonised within the EU (including the inflation rate) plays an important role in the assessment of overall economic development.
Industry and construction
Manufacturing industry
In April 2020, industry, and in particular manufacturing industry, suffered the sharpest fall in the EU since the start of the time series in 1992. The construction sector also recorded a decline in the EU as a whole.
Industry
Construction industry
Labour market
Unemployment
The economic consequences of the COVID-19 pandemic pose enormous challenges for the labour market. Government measures, such as the reduced hours compensation (Kurzarbeitergeld) in Germany, are one of the reasons why the increase has so far been relatively moderate.
In an uncertain economic situation, young people have a particularly difficult time as far as the labour market goes: as new entrants without substantial work experience and often only employed on the basis of limited-term contracts, they are more than twice as likely to be unemployed as an average member of the EU labour force.
Services
The COVID-19 crisis has affected service companies to varying degrees. For example, companies in the travel industry - from tour operators and airlines to accommodation providers - recorded large declines in turnover. In other sectors, however, sales have been rising. For example, demand for postal, courier and express services increased in many countries during the first months of the pandemic.
Services
Retail trade
As a result of temporary store closures, the stationary retail trade has had to accept a drop in sales. The decline would have been even more pronounced had turnover not increased in supermarkets, pharmacies, drugstores and online trading.
Accommodation and food service
Empty restaurants and closed bars: Measures to prevent or at least limit the spread of the coronavirus have severely affected the catering industry across the EU. The travel restrictions imposed led to a huge drop in overnight stays.
Export
The COVID-19 pandemic has a strong impact on the international movement of goods. Temporary border closures, logistical problems and disruptions in supply chains have impacted on export figures since March 2020.
Population and health
Number of deaths
According to the EuroMOMO-Project, many EU countries have experienced excess mortality due to the COVID-19 pandemic.
Comprehensive statistics on deaths and causes of death in European countries are provided by the Statistical Office of the EU, Eurostat. In the course of the COVID-19 pandemic, Eurostat also provided weekly data for many countries for the first time ever. As far as Germany is concerned, the Federal Statistical Office also now publishes daily mortaility figures online.
Older population
With regard to COVID-19 infections, old age is considered to be a risk factor. This is partly due to the fact that older people more often suffer from pre-existing medical conditions and also due to the fact that their immune systems are on average less robust than they used to be. This poses particular challenges for the ageing societies in Europe. In four EU countries, the percentage of the population aged 75 years and older now exceeds 10%.
Notes
Overview of the country codes used in graphics.
The Statistical Office of the EU, Eurostat, harmonizes national data to make them comparable at European level. The data published by Eurostat for Germany may differ from the data published by Destatis for Germany due to this harmonization.
Status of data extraction: 05 June 2023.