Euro Area Data Update: Firm ifo Details; A Further Uptick in Our Headline Inflation Nearcast

Key Takeaways

• 1.Euro area Q3 GDP tracking estimate remains steady at +0.22% qoq, with Spain leading at +0.65% while Germany lags at +0.06%.
• 2.The headline inflation nearcast for end-2026 rose by 0.07pp to +4.05% yoy, driven by higher commodity prices and higher business price plans in manufacturing and retail.
• 3.German survey data was mixed: GfK consumer climate deteriorated, while ifo details showed strength in defense, electronics, and hospitality.

Table of Contents

• Activity
• Inflation

Report data

Exhibit 1: Area-Wide Tracking Estimate At +0.22%qoq

Reports in this series

Euro Area Data Update is shown in chronological order through this edition, published on September 25, 2026.

Part of the Euro Area Data Update series — view all 36 editions

Looking for the latest edition? Euro Area Data Update Soft August IP Weakens Growth Momentum in Italy (Oct 9, 2026)

1. Sep 16Euro Area Data Update Area Wide IP Edged Down in July
2. Sep 18Euro Area Data Update Softer Italian Construction and Services Data in July
3. Sep 23Euro Area Data Update Firm Euro Area PMIs and Spanish Trade, Slightly Softer Consumer Confidence
4. Sep 24Euro Area Data Update Data Better in Germany, Mixed in France