Euro Area GDP Growth Rate  1995-2018 | Data | Chart | Calendar | Forecast

The Eurozone economy expanded 0.4 percent on quarter in the three months to June 2018, unrevised from the second estimate and the same pace as in the previous period. Fixed investment and household consumption were the main drivers of growth, while net external demand contributed negatively to the expansion. 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.

Euro Area GDP Growth Rate
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Eurozone Q2 GDP Growth Confirmed at 0.4%

The Eurozone economy expanded 0.4 percent on quarter in the three months to June 2018, unrevised from the second estimate and the same pace as in the previous period.

From the expenditure side, positive contributions to GDP growth came from gross fixed capital formation (0.3 percentage points), household final consumption expenditure (0.1 percentage points), government spending (0.1 percentage points) and inventory changes (0.1 percentage points). By contrast, net trade subtracted 0.2 percentage points to GDP growth.

Fixed investment jumped by 1.2 percent in the second quarter, following a 0.3 percent gain in the previous period. In addition, household consumption rose by 0.2 percent (vs 0.5 percent in Q1) and government spending increased by 0.4 percent (vs 0.1 percent in Q1). On the other hand, imports climbed by 1.1 percent, after a 0.3 percent decrease in the previous period, while exports advanced at a slower 0.6 percent, compared with a 0.7 percent drop in Q1.

From the production side, industry output expanded by 0.2 percent (vs -0.7 percent in Q1), boosted by manufacturing (0.4 percent vs -0.8 percent). Also, construction advanced by 0.6 percent (vs 0.9 percent in Q1). Among services, output rose for: trade, transport, accommodation and food service activities (0.5 percent vs 0.7 percent); information and communication (0.6 percent vs 2 percent); financial and insurance activities (0.2 percent vs -0.3 percent); real estate activities (0.1 percent vs 0.5 percent); professional and support service activities (0.7 percent vs 0.9 percent); administration and other public services (0.3 percent vs 0.5 percent); and arts, entertainment and other services (0.1 percent vs 0.4 percent).

Among countries for which data is already available, the GDP growth picked up in Germany (0.5 percent vs 0.4 percent), the Netherlands (0.7 percent vs 0.6 percent), Belgium (0.4 percent vs 0.3 percent), Portugal (0.5 percent vs 0.4 percent), Estonia (1.4 percent vs 0.2 percent), Malta (1.9 percent vs 0.9 percent), Slovenia (0.8 percent vs 0.5 percent) and Slovakia (1.1 percent vs 1 percent). Meanwhile, economic growth was unchanged in France (at 0.2 percent) and Lithuania (at 0.9 percent); and slowed in Italy (0.2 percent vs 0.3 percent), Spain (0.6 percent vs 0.7 percent), Finland (0.3 percent vs 1.2 percent), Austria (0.5 percent vs 0.9 percent), Greece (0.2 percent vs 0.9 percent), Latvia (0.9 percent vs 1.5 percent) and Cyprus (0.8 percent vs 1 percent). 

Compared with the same quarter of the previous year, the Euro Area economy expanded 2.1 percent in the second quarter, slightly below a second estimate of 2.2 percent and after a downwardly revised 2.4 percent growth in the previous period. 

Considering the European Union as a whole, GDP growth was unchanged at 0.4 percent quarter-on-quarter; and eased to 2.1 percent year-on-year (vs 2.3 percent in Q1).

Eurostat | Joana Ferreira |
9/7/2018 9:53:25 AM

Calendar GMT Actual Previous Consensus TEForecast
2018-07-31 09:00 AM GDP Growth Rate QoQ Flash 0.3% 0.4% 0.4% 0.5%
2018-08-14 09:00 AM GDP Growth Rate QoQ 2nd Est 0.4% 0.4% 0.4% 0.3%
2018-09-07 09:00 AM GDP Growth Rate QoQ 3rd Est 0.4% 0.4% 0.4% 0.4%
2018-10-31 10:00 AM GDP Growth Rate QoQ Flash 0.4% 0.5%
2018-11-14 10:00 AM GDP Growth Rate QoQ 2nd Est 0.4%
2018-12-07 10:00 AM GDP Growth Rate QoQ 3rd Est 0.4%

Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.40 1.30 -3.00 percent [+]
GDP Annual Growth Rate 2.10 2.40 5.00 -5.50 percent [+]
GDP 12589.50 11934.74 14113.09 245.48 USD Billion [+]
GDP Constant Prices 2639.32 2629.29 2639.32 1768.52 EUR Billion [+]
Gross Fixed Capital Formation 552.38 545.71 575.54 381.12 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 September of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.40 1.30 -3.00 1995 - 2018 percent Quarterly

GDP growth rate by Country
Country Last
Indonesia 4.21 Jun/18
United States 4.20 Jun/18
India 1.90 Mar/18
China 1.80 Jun/18
Australia 0.90 Jun/18
Turkey 0.90 Jun/18
Russia 0.85 Mar/18
Netherlands 0.80 Jun/18
Canada 0.70 Jun/18
Japan 0.70 Jun/18
Switzerland 0.70 Jun/18
Singapore 0.60 Jun/18
South Korea 0.60 Jun/18
Spain 0.60 Jun/18
Germany 0.50 Jun/18
Euro Area 0.40 Jun/18
United Kingdom 0.40 Jun/18
Brazil 0.20 Jun/18
France 0.20 Jun/18
Italy 0.20 Jun/18
Saudi Arabia -0.05 Mar/18
Mexico -0.20 Jun/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18