Euro Area GDP Growth Rate  1995-2017 | Data | Chart | Calendar | Forecast

The Eurozone economy expanded 0.6 percent on quarter in the three months to June of 2017, in line with the second estimate and following a 0.5 percent advance in the previous period. Growth was mainly boosted by household consumption, fixed investment and exports. Among Eurozone's largest economies, GDP growth picked up in Spain; was unchanged in France and Italy; and slowed in Germany. Year-on-year, the economy expanded 2.3 percent, above the previous estimate of 2.2 percent. GDP Growth Rate in the Euro Area averaged 0.37 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 -3 percent in the first quarter of 2009.

Euro Area GDP Growth Rate
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Eurozone Q2 GDP Growth Rate Confirmed at 0.6%


The Eurozone economy expanded 0.6 percent on quarter in the three months to June of 2017, in line with the second estimate and following a 0.5 percent advance in the previous period. Growth was mainly boosted by household consumption, fixed investment and exports. Among Eurozone's largest economies, GDP growth picked up in Spain; was unchanged in France and Italy; and slowed in Germany.

From the expenditure side, the positive contribution to GDP came mainly from household final consumption expenditure (0.3 percentage points), gross fixed capital formation (0.2 percentage points), government spending (0.1 percentage points) and net exports (0.1 percentage points). Meawnhile, the contribution of changes in inventories was negative (-0.1 percentage points).

Household consumption went up 0.5 percent (0.4 percent in Q1), gross fixed capital formation jumped by 0.9 percent (-0.3 percent in Q1) and government spending advanced by 0.5 percent (0.2 percent in Q1). In addition, exports rose 1.1 percent (1.3 percent in Q1) and imports went up at a slower 0.9 percent (0.4 percent in Q1).

From the production side, industry grew by 1.1 percent (-0.1 percent in Q1), boosted by manufacturing (1 percent from 0.2 percent in Q1). Also, construction advanced by 1 percent (1.5 percent in Q1). Among services, output rose for: trade, transport, accommodation and food service activities (0.7 percent from 0.9 percent in Q1); information and communication (1 percent from 1.1 percent in Q1); financial and insurance activities (0.1 percent after showing no growth in Q1); real estate activities (0.3 percent from 0.5 percent in Q1); professional and support service activities (0.8 percent from 1.3 percent in Q1); administration and other public services (0.2 percent, the same as in Q1); and arts, entertainment and other services (0.3 percent, the same as in Q1). By contrast, agriculture, forestry and fishing contracted 0.9 percent after an increase of 1.6 percent in Q1.

Among countries for which data is already available, GDP expanded at a faster pace in Spain (0.9 percent from 0.8 percent in Q1), the Netherlands (1.5 percent from 0.6 percent), Austria (0.9 percent from 0.7 percent) and Estonia (1.3 percent from 1.2 percent). Meanwhile, GDP growth was unchanged in France (at 0.5 percent), Italy (at 0.4 percent), Greece (at 0.5 percent) and Slovakia (at 0.8 percent); and slowed in Germany (0.6 percent from 0.7 percent), Belgium (0.4 percent from 0.6 percent), Cyprus (0.9 percent from 1 percent), Finland (0.4 percent from 1.2 percent), Latvia (1.2 percent from 1.7 percent), Lithuania (0.6 percent from 1.3 percent), Portugal (0.3 percent from 1 percent) and Slovenia (1.1 percent from 1.2 percent). 

Year-on-year, the economy grew 2.3 percent, better than the second estimate of 2.2 percent and following an upwardly revised 2 percent expansion in the previous three-month period. 

Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
9/7/2017 9:24:08 AM



Calendar GMT Actual Previous Consensus TEForecast
2017-08-01 09:00 AM GDP Growth Rate QoQ Flash 0.6% 0.5% 0.6% 0.5%
2017-08-16 09:00 AM GDP Growth Rate QoQ 2nd Est 0.6% 0.5% 0.6% 0.6%
2017-09-07 09:00 AM GDP Growth Rate QoQ 3rd Est 0.6% 0.5% 0.6% 0.6%
2017-10-31 10:00 AM GDP Growth Rate QoQ Flash 0.6% 0.7%
2017-11-14 10:00 AM GDP Growth Rate QoQ 2nd Est 0.6% 0.7%
2017-12-06 10:00 AM GDP Growth Rate QoQ 3rd Est 0.6% 0.7%


Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.50 1.30 -3.00 percent [+]
GDP Annual Growth Rate 2.30 2.00 5.00 -5.50 percent [+]
GDP 11885.66 11616.14 14115.37 245.39 USD Billion [+]
GDP Constant Prices 2570.92 2554.78 2570.92 1768.88 EUR Billion [+]
Gross Fixed Capital Formation 527.43 522.76 571.39 381.84 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 October of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.50 1.30 -3.00 1995 - 2017 percent Quarterly
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gdp growth rate by Country

Last
Indonesia 4.00 Jun/17
United States 3.10 Jun/17
Turkey 2.10 Jun/17
China 1.70 Jun/17
Netherlands 1.50 Jun/17
India 1.40 Jun/17
Canada 1.10 Jun/17
Russia 1.08 Jun/17
Spain 0.90 Jun/17
Australia 0.80 Jun/17
Euro Area 0.60 Jun/17
Germany 0.60 Jun/17
Japan 0.60 Jun/17
Mexico 0.60 Jun/17
South Korea 0.60 Jun/17
France 0.50 Jun/17
Italy 0.40 Jun/17
Switzerland 0.30 Jun/17
United Kingdom 0.30 Jun/17
Brazil 0.20 Jun/17