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Data from Eurostat. Forecasts by Sigmanomics Forecast Engine.
European UnionEurozone Government Debt to GDP climbed to 87.8% in April 2026
EurostatQuarterlyReleased April 2026
Eurozone Government Debt to GDP climbed to 87.8% in April 2026, up 0.8% from March's 87.0% reading. The reading matched expectations. Government Debt to GDP is now the highest in 12 months.
Latest Release
87.8
Actual
87.6
Consensus
87
Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| EUR/USD | ▲ Direct | +0.50 | FOREX | Bullish EUR | → View |
| EUR/JPY | ▲ Direct | +0.45 | FOREX | Bullish EUR | → View |
| EUR/GBP | ▲ Direct | +0.40 | FOREX | Bullish EUR | → View |
| DAX | ▲ Direct | +0.40 | INDEX | Bullish EU | → View |
| XAU/USD | ▼ Inverse | −0.30 | COMMODITIES | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Government Debt to GDP (European Union) was reported at 87.8% in April 2026. This beat the market consensus of 87.6% by 0.2%. The reading rose from the previous value of 87%. This is classified as a medium-impact indicator released on a quarterly basis.
WHY IT MATTERS
The indicator has been trending downward over the last three releases. The trailing three releases averaged 89.17%, down from the prior three at 92.57%.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with EUR/USD (Bullish EUR). A secondary relationship exists with EUR/JPY, positively correlated (Bullish EUR).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include ZEW Economic Sentiment Index (Jun 16) and Economic Sentiment (Jun 16).
Auto-generated from current model state · Refreshes on each release · Last update April 2025.
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Government Debt to GDP - EU
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About Government Debt to GDP — European Union
DEFINITION
Government Debt to GDP is a financial indicator that measures the amount of a country's debt in relation to its gross domestic product (GDP). It is used to assess a government's ability to manage its debt and its overall fiscal health. A high ratio indicates that a government may have trouble paying off its debt, while a low ratio suggests a stronger economy and better debt management. This indicator is closely monitored by investors, policymakers, and international organizations as it provides insight into a country's economic stability and potential risks.
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus can drive short-term moves, particularly when the print breaks an established trend. Released quarterly.
WHAT CHANGED THIS MONTH
Latest reading (Apr 2026): actual 87.8 %, consensus 87.6 %. Prior reading (Apr 2025): 87.4 %. Before that (Apr 2024): 88.6 %.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bearish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary headwind in the current projection. This indicator correlates most strongly with EUR/USD (Bullish EUR, r=0.50) — a useful reference for forex-focused traders.