The Euro Area GDP expanded by 0.6% on quarter in Q1 2022, twice a 0.3% growth in the previous estimate, and above a downwardly revised 0.2% gain in Q4. Net trade and inventories were the main drivers of the expansion. Exports increased 0.4% while imports fell 0.6%. Gross fixed capital formation rose a meagre 0.1% while both household consumption (-0.7%) and public expenditure (-0.3%) contracted. Compared with the same quarter in 2021, the economy advanced 5.4%, also higher than 5.1% in the previous estimates. The economic outlook for the Euro Area is subdued as the war in Ukraine is far from over and continues to exert further upward pressures on commodity prices, causing renewed supply disruptions and increasing uncertainty. At the same time, the ECB is set to end 8 years of negative interest rates, in an attempt to curb record inflation, which is likely to weigh on consumer spending and investment. The European Commission expects the EA GDP growth at 2.7% for 2022. source: EUROSTAT

GDP Growth Rate in the Euro Area averaged 0.38 percent from 1995 until 2022, reaching an all time high of 12.80 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 July of 2022.

GDP Growth Rate in Euro Area is expected to be 0.00 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 0.40 percent in 2023 and 0.30 percent in 2024, according to our econometric models.

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Euro Area GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-05-17 09:00 AM QoQ 2nd Est Q1 0.3% 0.3% 0.2% 0.2%
2022-06-08 09:00 AM QoQ 3rd Est Q1 0.6% 0.2% 0.3% 0.3%
2022-07-29 09:00 AM QoQ Flash Q2 0.6% 0%


Related Last Previous Unit Reference
GDP Growth Rate 0.60 0.20 percent Mar 2022
GDP Annual Growth Rate 5.40 4.70 percent Mar 2022
GDP Constant Prices 2874.20 2856.36 EUR Billion Mar 2022
Gross Fixed Capital Formation 615.55 615.17 EUR Billion Mar 2022
Full Year GDP Growth 5.30 -6.40 percent Dec 2021
Gdp Growth Annualized 1.20 9.40 percent Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.20 12.80 -11.70 1995 - 2022 percent Quarterly
SA

News Stream
Euro Area GDP Growth Revised Higher in Q1
The Euro Area GDP expanded by 0.6% on quarter in Q1 2022, twice a 0.3% growth in the previous estimate, and above a downwardly revised 0.2% gain in Q4. Net trade and inventories were the main drivers of the expansion. Exports increased 0.4% while imports fell 0.6%. Gross fixed capital formation rose a meagre 0.1% while both household consumption (-0.7%) and public expenditure (-0.3%) contracted. Compared with the same quarter in 2021, the economy advanced 5.4%, also higher than 5.1% in the previous estimates. The economic outlook for the Euro Area is subdued as the war in Ukraine is far from over and continues to exert further upward pressures on commodity prices, causing renewed supply disruptions and increasing uncertainty. At the same time, the ECB is set to end 8 years of negative interest rates, in an attempt to curb record inflation, which is likely to weigh on consumer spending and investment. The European Commission expects the EA GDP growth at 2.7% for 2022.
2022-06-08
Euro Area GDP Growth Revised Slightly Higher in Q1
The Euro Area economy expanded 0.3% on quarter in the first three months of 2022, slightly higher than initial estimates of a 0.2% rise, and matching the growth of the previous quarter. Among the biggest economies, Germany expanded 0.2% and Spain 0.3% while France GDP growth stalled and Italy shrank 0.2%. Compared to the previous year, the GDP grew 5.1%, also above 5% in the preliminary estimate and 4.7% in Q4. Still, the economic outlook for the Euro Area is subdued as the war in Ukraine is far from over and continues to exert further upward pressures on commodity prices, causing renewed supply disruptions and increasing uncertainty. The European Commission expects the Euro Area GDP growth at 2.7% for 2022.
2022-05-17
Eurozone GDP Growth Slows More than Expected
The Euro Area economy expanded by 0.2 percent on quarter in the first three months of 2022, the least since the bloc exited a recession last year and below market expectations of a 0.3 percent advance. Growth in Spain (0.3 percent) and Germany (0.2 percent) more than offset a contraction in Italy (-0.2 percent) while the French economy stalled. Preliminary Eurostat data indicated the war and related commodity price spikes cut growth by 0.1 percentage points, as the European Commission forecast just before the Russian invasion that growth would be 0.3 percent quarter-on-quarter. Year-on-year, the GDP expanded 5 percent, accelerating from an upwardly 4.7 percent increase in Q4 and matching forecasts.
2022-04-29