The CEPR-EABCN Euro Area Business Cycle Dating Committee convened on September 12, 2025, to assess the current state of economic activity in the euro area, using quarterly data through the second quarter of 2025 and monthly data through July 2025. Year-on-year real GDP growth has picked up over the past year but remains modest. Employment continued to expand, though at a slowing pace. The euro area’s unemployment rate matched its historic low of 6.2% in July 2025.
DBC
Fall 2025 statement of the Dating Committee on the current state of the economic activity in the euro area.
