PPP is not a good measure for comparing the strength of different economies. The more appropriate comparison is looking at the growth in GDP with conversion to USD using the conversion rate at that time. Additionally starting in 2000 (ca. time of introduction of the euro) makes more sense than 2008. Using the data from https://stats.oecd.org/ gives you the following:
EUR/USD in 2000: $0.92
EUR/USD in 2022: $1.072
US GDP in 2000: $10.25T, 2022: $23.31T, growth of 227%
EU GDP in 2000: 7.86€ T, 2022: 15.81€ T(27 countries, excluding UK), converted to USD:
EU GDP in 2000: $7.23T, 2022: $16.94T, growth of 234%
Growth in the EU from 2000-2008 has probably (didnt crunch the numbers on this) been higher than in the US and then lower since around 2010. Also take into account that while growth has been slow (or even non-existent) in France, Portugal, Italy, Greece and Spain those countries make up less than half of the population of the EU. Eastern european countries on the other hand have grown very strongly thanks to starting from a very low base.
GDP figures are calculated using CID, specifically in order to prevent exchange rates from indicating false growth or contraction like you’ve demonstrated.
What’s worse you’ve committed a double sin, you’ve used figures which were already normalized using the constant international dollar and applied exchange rates to them.
EUR/USD in 2000: $0.92
EUR/USD in 2022: $1.072
US GDP in 2000: $10.25T, 2022: $23.31T, growth of 227%
EU GDP in 2000: 7.86€ T, 2022: 15.81€ T(27 countries, excluding UK), converted to USD:
EU GDP in 2000: $7.23T, 2022: $16.94T, growth of 234%
Growth in the EU from 2000-2008 has probably (didnt crunch the numbers on this) been higher than in the US and then lower since around 2010. Also take into account that while growth has been slow (or even non-existent) in France, Portugal, Italy, Greece and Spain those countries make up less than half of the population of the EU. Eastern european countries on the other hand have grown very strongly thanks to starting from a very low base.