Euro Area GDP Growth Rate  1995-2018 | Data | Chart | Calendar | Forecast

The Eurozone economy expanded 0.4 percent on quarter in the first three months of 2018, unrevised from the second estimate and following a 0.7 percent advance in the previous period. The slowdown of the bloc's output growth was due to a negative contribution from external demand, while household consumption and fixed investment continued to rise. GDP Growth Rate in the Euro Area averaged 0.39 percent from 1995 until 2018, reaching an all time high of 1.30 percent in the second quarter of 1997 and a record low of -2.90 percent in the first quarter of 2009.

Euro Area GDP Growth Rate
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Eurozone GDP Growth Slowdown Confirmed in Q1

The Eurozone economy expanded 0.4 percent on quarter in the first three months of 2018, unrevised from the second estimate and following a 0.7 percent advance in the previous period.

From the expenditure side, positive contributions to GDP growth came from household final consumption expenditure (0.3 percentage points), inventory changes (0.2 percentage points) and gross fixed capital formation (0.1 percentage points). By contrast, net trade subtracted 0.2 percentage points to GDP growth.

Household consumption grew by 0.5 percent in the first quarter, following a 0.2 percent gain in the previous period. In addition, fixed investment rose by 0.5 percent, after a 1.3 percent jump in the fourth quarter, while government spending was unchanged (vs 0.3 percent in Q4). Exports, however, dropped 0.4 percent, after a 2.2 percent increase in the previous period, while imports declined at a slower 0.1 percent, compared with a 1.5 percent gain in Q4.

From the production side, industry shrank by 0.3 percent (vs 1.6 percent in Q4), dragged by manufacturing (-0.3 percent vs 1.8 percent). By contrast, construction advanced by 0.7 percent (vs 1.1 percent in Q4). Among services, output rose for: trade, transport, accommodation and food service activities (0.8 percent vs 0.7 percent in Q4); information and communication (0.8 percent vs 0.7 percent); real estate activities (0.4 percent vs 0.2 percent); professional and support service activities (0.7 percent vs 0.8 percent); administration and other public services (0.2 percent, the same as in Q4); and arts, entertainment and other services (0.2 percent vs 0.1 percent). Financial and insurance activities contracted by 0.2 percent, following a 0.1 percent advance in the previous period.

Among countries for which data is already available, the GDP expanded at a softer pace in Germany (0.3 percent vs 0.6 percent in Q4), France (0.2 percent vs 0.7 percent), Italy (0.3 percent vs 0.4 percent), the Netherlands (0.5 percent vs 0.7 percent), Austria (0.8 percent vs 0.9 percent), Belgium (0.3 percent vs 0.5 percent), Portugal (0.4 percent vs 0.7 percent), Lithuania (0.9 percent vs 1.4 percent), Slovenia (0.6 percent vs 1.9 percent) and Cyprus (0.8 percent vs 1.1 percent). Meanwhile, GDP growth was unchanged in Spain (at 0.7 percent) and Slovakia (at 0.9 percent); and picked up in Finland (1.2 percent vs 0.9 percent), Greece (0.8 percent vs 0.2 percent) and Latvia (1.6 percent vs 0.4 percent). Malta's gross domestic product rebounded by 0.6 percent (vs -0.2 percent in Q4), while the Estonian economy contracted by 0.1 percent (vs 2.1 percent in Q4).

Compared with the same quarter of the previous year, the Eurozone economy expanded 2.5 percent, unrevised from the second estimate and below 2.8 percent in the previous period.

Considering the European Union, the GDP growth eased to 0.4 percent quarter-on-quarter (vs 0.7 percent in Q4) and to 2.4 percent year-on-year (vs 2.7 percent in Q4).

Eurostat | Joana Ferreira |
6/7/2018 9:42:10 AM

Calendar GMT Actual Previous Consensus TEForecast
2018-05-02 09:00 AM GDP Growth Rate QoQ Flash 0.4% 0.7% 0.4% 0.4%
2018-05-15 09:00 AM GDP Growth Rate QoQ 2nd Est 0.4% 0.7% 0.4% 0.4%
2018-06-07 09:00 AM GDP Growth Rate QoQ 3rd Est 0.4% 0.7% 0.4% 0.4%
2018-07-31 09:00 AM GDP Growth Rate QoQ Flash 0.4% 0.5%
2018-08-16 09:00 AM GDP Growth Rate QoQ 2nd Est 0.4%
2018-09-07 09:00 AM GDP Growth Rate QoQ 3rd Est 0.4%

Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.70 1.30 -2.90 percent [+]
GDP Annual Growth Rate 2.50 2.80 5.00 -5.50 percent [+]
GDP 12589.50 11934.74 14113.09 245.48 USD Billion [+]
GDP Constant Prices 2626.01 2615.96 2626.01 1767.21 EUR Billion [+]
Gross Fixed Capital Formation 545.92 543.20 571.21 381.50 EUR Billion [+]
GDP per capita 40088.65 39259.42 40088.65 10808.76 USD [+]
GDP per capita PPP 39175.25 38359.70 39175.25 28115.88 USD [+]

Euro Area GDP Growth Rate

The Euro Area is an economic and monetary union of 19 European countries that adopted the euro as their currency. It is the second largest economy in the world and if it was a country it would be the third most populous with 341 million inhabitants. Germany, France, Italy and Spain are the most important economies accounting respectively for 29 percent, 20 percent, 15 percent and 10 percent of the bloc’s GDP. This page provides - Euro Area GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.70 1.30 -2.90 1995 - 2018 percent Quarterly

GDP growth rate by Country
Country Last
Turkey 2.00 Mar/18
United States 2.00 Mar/18
India 1.90 Mar/18
China 1.80 Jun/18
Mexico 1.10 Mar/18
Australia 1.00 Mar/18
South Korea 1.00 Mar/18
Russia 0.85 Mar/18
Spain 0.70 Mar/18
Netherlands 0.60 Mar/18
Switzerland 0.60 Mar/18
Brazil 0.40 Mar/18
Euro Area 0.40 Mar/18
Canada 0.30 Mar/18
Germany 0.30 Mar/18
Italy 0.30 Mar/18
France 0.20 Mar/18
United Kingdom 0.20 Mar/18
Japan -0.20 Mar/18
Indonesia -0.42 Mar/18