Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Stay on top of the latest market trends
Subscribe to Axios Markets for the latest market trends and economic insights. Sign up for free.
Sports news worthy of your time
Binge on the stats and stories that drive the sports world with Axios Sports. Sign up for free.
Tech news worthy of your time
Get our smart take on technology from the Valley and D.C. with Axios Login. Sign up for free.
Get the inside stories
Get an insider's guide to the new White House with Axios Sneak Peek. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Want a daily digest of the top Denver news?
Get a daily digest of the most important stories affecting your hometown with Axios Denver
Want a daily digest of the top Des Moines news?
Get a daily digest of the most important stories affecting your hometown with Axios Des Moines
Want a daily digest of the top Twin Cities news?
Get a daily digest of the most important stories affecting your hometown with Axios Twin Cities
Want a daily digest of the top Tampa Bay news?
Get a daily digest of the most important stories affecting your hometown with Axios Tampa Bay
Want a daily digest of the top Charlotte news?
Get a daily digest of the most important stories affecting your hometown with Axios Charlotte
The euro area grew at 1.8% in 2016, faster than the United States' clip of 1.6%.
(function () { var attempt = 0, init = function(){ if (window.pym) { var pymParent = new pym.Parent("g-usa-euro-gdp-01-box", "https://graphics.axios.com/2017-01-31-usa-euro-gdp/usa-euro-gdp-01.html", {}); } else if (attempt++ < 40) { setTimeout(init, 50); } }; init(); })();
Data: Bureau of Economic Analysis, Eurostat; Chart: Andrew Witherspoon / Axios
Sound smart: The U.S. dollar has risen 25% against the euro since the summer of 2014, a trend that has provided a huge boost to European exporters and growth. The New York Fed estimates that a 10% rise in the dollar can cut 0.5% from GDP growth in the first year 0.7% the next, suggesting U.S. growth could have been close to double its actual 2016 rate absent the change in exchange rates.
The downside: The Eurozone may technically have grown faster than the U.S. last year, but with unemployment in Spain still at 19%, and purchasing power in relatively prosperous Germany on the decline, Americans should feel no envy.