The Eurozone quarterly economic growth was revised higher to 2.2 percent in the second quarter of 2021, a solid rebound following two consecutive periods of contraction, amid a recovery in activity and domestic demand due to the reopening of the bloc's economies, helped by the rapid pace of COVID-19 vaccination. Household consumption jumped 3.7 percent (vs -2.1 percent in Q1) and fixed investment rose 1.1 percent (vs -0.2 percent in Q1). In addition, public spending advanced 1.2 percent (vs -0.5 percent in Q1), while net trade made no contribution to the GDP growth as exports grew nearly at the same pace as imports. Changes in inventories, however, subtracted 0.2 percentage points from the GDP. On a yearly basis, the economy expanded 14.3 percent, the most on record, reflecting a low base year due to the pandemic. source: EUROSTAT

GDP Growth Rate in the Euro Area averaged 0.35 percent from 1995 until 2021, reaching an all time high of 12.60 percent in the third quarter of 2020 and a record low of -11.70 percent in the second quarter of 2020. This page provides - Euro Area GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.

GDP Growth Rate in Euro Area is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.

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Euro Area GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
2.20 -0.30 12.60 -11.70 1995 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2021-06-08 09:00 AM QoQ 3rd Est Q1 -0.3% -0.6% -0.6% -0.6%
2021-07-30 09:00 AM QoQ Flash Q2 2% -0.3% 1.5% 1.5%
2021-08-17 09:00 AM QoQ 2nd Est Q2 2% -0.3% 2% 2%
2021-09-07 09:00 AM QoQ 3rd Est Q2 2.2% -0.3% 2% 2%
2021-10-29 10:00 AM QoQ Flash Q3 2.2% 3.2%
2021-11-16 10:00 AM QoQ 2nd Est Q3 2.2%
2021-12-07 10:00 AM QoQ 3rd Est Q3 2.2%


News Stream
Eurozone Q2 GDP Growth Revised Higher to 2.2%
The Eurozone quarterly economic growth was revised higher to 2.2 percent in the second quarter of 2021, a solid rebound following two consecutive periods of contraction, amid a recovery in activity and domestic demand due to the reopening of the bloc's economies, helped by the rapid pace of COVID-19 vaccination. Household consumption jumped 3.7 percent (vs -2.1 percent in Q1) and fixed investment rose 1.1 percent (vs -0.2 percent in Q1). In addition, public spending advanced 1.2 percent (vs -0.5 percent in Q1), while net trade made no contribution to the GDP growth as exports grew nearly at the same pace as imports. Changes in inventories, however, subtracted 0.2 percentage points from the GDP. On a yearly basis, the economy expanded 14.3 percent, the most on record, reflecting a low base year due to the pandemic.
2021-09-07
Eurozone Q2 GDP Growth Confirmed at 2%
The Eurozone quarterly economic growth was confirmed at 2.0 percent in the second quarter of 2021, following two consecutive periods of contraction, as activity and demand rebounded following the reopening of the economy, coupled with the rapid pace of COVID-19 vaccination and ongoing government support. Among the bloc's largest economies, Germany, France, Spain and the Netherlands returned to growth, while Italy's expansion gathered pace. Year-on-year, the GDP expanded 13.6 percent in the second quarter, the most on record, reflecting a low base year triggered by the coronavirus crisis.
2021-08-17
Eurozone Economic Recovery Beats Expectations
The Euro Area economy expanded by 2.0 percent on quarter in the three months to June 2021, rebounding from two consecutive periods of contraction and beating market expectations of 1.5 percent growth, a preliminary estimate showed. The bloc's economic recovery gained momentum on the back of the continued re-opening efforts, helped by the rapid pace of COVID-19 vaccination and ongoing government support. Among the bloc's biggest economies, Germany, France and Spain returned to growth, and Italy's expansion gathered pace.
2021-07-30
Eurozone GDP Contraction Less Severe than 1st Thought
The Euro Area economy shrank 0.3 percent on quarter in the first three months of 2021, compared with a preliminary estimate of 0.6 percent contraction. Still, the bloc entered a double-dip recession as activity and demand were hit by fresh distancing and lockdown measures imposed during that period, to curb the spread of the coronavirus pandemic. A sharp decline in household consumption was partially offset by an increase in fixed investment and positive contributions from net trade and inventories. Among the bloc's largest economies, Germany, France, Spain and the Netherlands fell back into contraction territory, while Italy's economy posted modest growth despite the restrictions. Year-on-year, the GDP dropped 1.3 percent in the first quarter, much less than a second estimate of 1.8 percent fall.
2021-06-08

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.