The Eurozone quarterly economic growth was confirmed at 0.2 percent in the fourth quarter of 2018, slightly above the previous period's revised figure of 0.1 percent. The expansion was driven by net exports, household consumption, fixed investment and public spending, which offset a sharp decline in inventories. GDP Growth Rate in the Euro Area averaged 0.39 percent from 1995 until 2018, reaching an all time high of 1.30 percent in the second quarter of 1997 and a record low of -3 percent in the first quarter of 2009.

GDP Growth Rate in Euro Area is expected to be 0.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Euro Area to stand at 0.30 in 12 months time. In the long-term, the Euro Area GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.

Euro Area GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-12-07 10:00 AM GDP Growth Rate QoQ 3rd Est 0.2% 0.4% 0.2% 0.2%
2019-01-31 10:00 AM GDP Growth Rate QoQ Flash 0.2% 0.2% 0.2% 0.3%
2019-02-14 10:00 AM GDP Growth Rate QoQ 2nd Est 0.2% 0.2% 0.2% 0.2%
2019-03-07 10:00 AM GDP Growth Rate QoQ 3rd Est 0.2% 0.1% 0.2% 0.2%
2019-04-30 09:00 AM GDP Growth Rate QoQ Flash 0.2% 0.1%
2019-05-15 09:00 AM GDP Growth Rate QoQ 2nd Est 0.2% 0.1%
2019-06-06 09:00 AM GDP Growth Rate QoQ 3rd Est 0.2% 0.1%



Eurozone Q4 GDP Growth Confirmed at 0.2%

The Eurozone quarterly economic growth was confirmed at 0.2 percent in the fourth quarter of 2018, slightly above the previous period's revised figure of 0.1 percent.

From the expenditure side, the largest positive contribution to the GDP growth came from net exports (0.2 percentage points), followed by household final consumption expenditure (0.1 percentage points), gross fixed capital formation (0.1 percentage points) and government spending (0.1 percentage points); while inventories subtracted 0.4 percentage points to the GDP.

Exports surged 0.9 percent in the fourth quarter (vs 0.2 percent in Q3) while imports rose at a slower 0.5 percent (vs 1.1 percent in Q3). In addition, the expansion was supported by increases in household consumption (0.2 percent vs 0.1 percent), fixed investment (0.6 percent, the same as in Q3) and government spending (0.7 percent vs 0.1 percent).

From the production side, services activity was the main driver of growth led by trade, transport, accommodation and food service activities (0.2 percent vs 0.1 percent); information and communication (0.6 percent vs 0.7 percent); financial and insurance activities (0.1 percent vs 0.5 percent); real estate activities (0.3 percent vs 0.4 percent); professional and support service activities (0.5 percent vs -0.1 percent) and administration and other public services (0.3 percent, the same as in Q3). Also, construction advanced 1.1 percent (vs 0.5 percent in Q3). By contrast, industry output shrank 0.5 percent (vs -0.1 percent in Q3), dragged by manufacturing (-0.2 percent vs -0.3 percent).

Among the bloc's largest economies, the German economy stalled in the fourth quarter, after contracting in the July-September period for the first time since 2015. Also, Italy's economy contracted for the second straight period by 0.1 percent, due to a fall in inventories, throwing the country into recession for the third time in a decade. On the other hand, France's GDP growth rate was unchanged at 0.3 percent and the Spanish economy continued to expand at a solid pace (0.7 percent vs 0.6 percent).

Compared with the same quarter of the previous year, the Euro Area economy expanded 1.1 percent in the three months to December, slightly below a flash estimate of 1.2 percent and following a 1.6 percent growth in the previous period. In 2018, the GDP rose 1.8 percent, compared to 2.4 percent in 2017.

Considering the European Union as a whole, GDP growth was unchanged at 0.3 percent quarter-on-quarter; but slowed to 1.4 percent year-on-year (vs 1.8 percent in Q3). In 2018, the GDP increased 1.9 percent, also compared to 2.4 percent in 2017.


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/7/2019 10:48:49 AM



Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 0.10 1.30 -3.00 percent [+]
GDP Annual Growth Rate 1.10 1.60 5.00 -5.50 percent [+]
GDP 12589.50 11934.74 14113.09 245.48 USD Billion [+]
GDP Constant Prices 2651.45 2645.73 2651.45 1768.38 EUR Billion [+]
Gross Fixed Capital Formation 561.04 557.75 575.55 381.18 EUR Billion [+]
GDP per capita 40088.65 39259.42 40088.65 10808.76 USD [+]
GDP per capita PPP 39175.25 38359.70 39175.25 28115.88 USD [+]


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. 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 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.10 1.30 -3.00 1995 - 2018 percent Quarterly
SA




Country Last Previous
United States 2.60 Dec/18
Saudi Arabia 1.60 Sep/18
China 1.50 Dec/18
India 1.50 Sep/18
Singapore 1.40 Dec/18
South Africa 1.40 Dec/18
South Korea 1.00 Dec/18
Spain 0.70 Dec/18
Japan 0.50 Dec/18
Netherlands 0.50 Dec/18
France 0.30 Dec/18
Russia 0.30 Sep/18
Australia 0.20 Dec/18
Euro Area 0.20 Dec/18
Mexico 0.20 Dec/18
Switzerland 0.20 Dec/18
United Kingdom 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Germany 0.00 Dec/18
Italy -0.10 Dec/18
Argentina -1.20 Dec/18
Indonesia -1.69 Dec/18
Turkey -2.40 Dec/18


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