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.