ANALYSIS OF CHANGES IN KEY MACROECONOMIC INDICATORS OF THE EUROPEAN UNION COUNTRIES DURING THE DIFFERENT PERIODS OF ECONOMIC CYCLES

Abstract

The article delves into the changes in the main macroeconomic indicators of the European Union (EU) countries in the different periods of economic cycles. The research problem is formulated by raising a problematic question: what are the changes in the main macroeconomic indicators of the European Union countries (Lithuania, France, Sweden and Greece) in the different periods of the economic cycles? The aim is to analyse the main changes in the macroeconomic indicators of the European Union countries in the different periods of economic cycles. Research methods: analysis of scientific literature, analysis of statistical data, grouping of variables, graphical representation. After analysing the changes in gross domestic product in Lithuania, France, Sweden and Greece, it can be stated that the largest positive change in gross domestic product (GDP) is observed in Lithuania, when it almost doubled at the end of the analysed period. The analysis of the statistical data revealed that the highest unemployment rate was recorded in 2010, during the global financial crisis and declining trend until 2020. It can be observed that changes in the unemployment rate during the period under review were affected not only by the global financial crisis in 2008, but also by the effects of the global health crisis in 2020. The analysis data on the dynamics of the inflation rate revealed that the highest inflation was observed in Lithuania. The data showed that in Lithuania in 2015 deflation was observed, possibly due to the introduction of the euro in the country. Meanwhile, higher deflation was observed only in Greece in 2013-2015 and 2020