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

The Eurozone economy expanded 0.6 percent on quarter in the three months to December of 2017, in line with the second estimate and following a 0.7 percent advance in the previous period. Growth was mainly driven by exports and fixed investment while household consumption increased at a softer pace. Among Eurozone's largest economies, GDP growth eased slightly in Germany and Italy, was unchanged in Spain and picked up in France. GDP Growth Rate in the Euro Area averaged 0.38 percent from 1995 until 2017, 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 Q4 GDP Growth Confirmed at 0.6%

The Eurozone economy expanded 0.6 percent on quarter in the three months to December of 2017, in line with 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 net trade (0.4 percentage points), gross fixed capital formation (0.2 percentage points), household final consumption expenditure (0.1 percentage points) and government spending (0.1 percentage points). By contrast, changes in inventories subtracted 0.2 percentage points to GDP growth.

Exports rose 1.9 percent, after a 1.6 percent increase in the third quarter, while imports went up at a slower 1.1 percent, compared with a 0.6 percent gain in Q3. In addition, fixed investment rebounded sharply by 0.9 percent (-0.2 percent in Q3). On the other hand, household consumption growth eased to 0.2 percent from 0.3 percent in the third quarter, and government spending increased at a softer 0.3 percent, compared to 0.4 percent in Q3. 

From the production side, industry grew by 1.2 percent (1.5 percent in Q3), boosted by manufacturing (1.3 percent vs 1.7 percent in Q3). Also, construction advanced by 1.1 percent (vs 0.4 percent in Q3). Among services, output rose for: trade, transport, accommodation and food service activities (0.6 percent vs 0.4 percent); information and communication (0.7 percent vs 1.3 percent); financial and insurance activities (0.2 percent vs 0.1 percent); real estate activities (0.3 percent vs 0.5 percent); professional and support service activities (0.8 percent, the same as in Q3); administration and other public services (0.3 percent vs 0.5 percent); and arts, entertainment and other services (0.2 percent vs 0.7 percent).

Among countries for which data is already available, the GDP expanded at a softer pace in Germany (0.6 percent vs 0.7 percent in Q3), Italy (0.3 percent vs 0.4 percent), Greece (0.1 percent vs 0.4 percent), and Latvia (0.3 percent vs 1.5 percent). Meanwhile, GDP growth was unchanged in Spain (at 0.7 percent) and Austria (at 0.8 percent); and picked up in France (0.6 percent vs 0.5 percent), the Netherlands (0.8 percent vs 0.4 percent), Finland (0.7 percent vs 0.2 percent), Belgium (0.5 percent vs 0.2 percent), Portugal (0.7 percent vs 0.6 percent), Slovakia (0.9 percent vs 0.8 percent), Slovenia (2 percent vs 1.2 percent), Lithuania (1.4 percent vs 0.5 percent), Cyprus (1.1 percent vs 0.9 percent) and Estonia (2.2 percent vs 0.4 percent).

Compared with the same quarter of the previous year, the Eurozone economy expanded 2.7 percent, unrevised from the preliminary estimate and the same pace as in the previous period. Over the whole year 2017, GDP growth stood at 2.3 percent, slightly below earlier estimates of 2.5 percent and compared to 1.8 percent in 2016.

Considering the European Union, the GDP growth eased to 0.6 percent quarter-on-quarter (vs 0.7 percent in Q3) and to 2.6 percent year-on-year (vs 2.7 percent in Q3). For 2017 full year, the economy expanded by 2.4 percent (vs 2 percent in 2016).

Eurostat | Joana Ferreira |
3/7/2018 11:27:33 AM

Calendar GMT Actual Previous Consensus TEForecast
2018-01-30 10:00 AM GDP Growth Rate QoQ Flash 0.6% 0.7% 0.6% 0.6%
2018-02-14 10:00 AM GDP Growth Rate QoQ 2nd Est 0.6% 0.7% 0.6% 0.6%
2018-03-07 10:00 AM GDP Growth Rate QoQ 3rd Est 0.6% 0.7% 0.6% 0.6%
2018-05-02 09:00 AM GDP Growth Rate QoQ Flash 0.6% 0.70%
2018-05-16 09:00 AM GDP Growth Rate QoQ 2nd Est 0.6%
2018-06-07 09:00 AM GDP Growth Rate QoQ 3rd Est 0.6%

Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.70 1.30 -2.90 percent [+]
GDP Annual Growth Rate 2.70 2.70 5.00 -5.50 percent [+]
GDP 11885.66 11616.14 14115.37 245.39 USD Billion [+]
GDP Constant Prices 2610.79 2595.18 2610.79 1769.79 EUR Billion [+]
Gross Fixed Capital Formation 539.14 542.77 571.38 381.52 EUR Billion [+]
GDP per capita 39105.31 38588.04 39105.31 10807.49 USD [+]
GDP per capita PPP 38234.81 37722.05 38234.81 28125.52 USD [+]

Euro Area GDP Growth Rate

The Euro Area is an economic and monetary union of 19 European Union 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 fourth most populous with 340 million inhabitants. Germany, France, Italy and Spain are the most important economies accounting respectively for 29 percent, 21 percent, 16 percent and 11 percent of Union’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 March of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.70 1.30 -2.90 1995 - 2017 percent Quarterly

GDP growth rate by Country
Country Last
United States 2.50 Dec/17
India 1.80 Dec/17
China 1.60 Dec/17
Turkey 1.20 Sep/17
Mexico 0.80 Dec/17
Netherlands 0.80 Dec/17
Spain 0.70 Dec/17
Euro Area 0.60 Dec/17
France 0.60 Dec/17
Germany 0.60 Dec/17
Switzerland 0.60 Dec/17
Australia 0.40 Dec/17
Canada 0.40 Dec/17
Japan 0.40 Dec/17
United Kingdom 0.40 Dec/17
Italy 0.30 Dec/17
Brazil 0.10 Dec/17
Russia 0.10 Sep/17
South Korea -0.20 Dec/17
Indonesia -1.70 Dec/17