The Euro Area economy shrank 0.6 percent on quarter in January-March 2021, entering a double-dip recession, as several countries across the region imposed social distancing and lockdown measures to curb the spread of the coronavirus pandemic. The services industry was one of the hardest hit, in particular, the leisure and hospitality industries and other consumer-related sectors. Among the bloc's largest economies, Germany, Italy, Spain and the Netherlands fell back into contraction territory, while France's economy returned to growth as the government delayed the imposition of lockdown. Year-on-year, the GDP dropped 1.8 percent in the first quarter, easing from a 4.9 percent slump in the previous three-month period. source: EUROSTAT
GDP Growth Rate in the Euro Area averaged 0.33 percent from 1995 until 2021, reaching an all time high of 12.50 percent in the third quarter of 2020 and a record low of -11.60 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 May of 2021.
GDP Growth Rate in Euro Area is expected to be 1.00 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 0.80 in 12 months time. 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.