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.