The Eurozone economy grew 0.2 percent on quarter in the three months to September 2018, unrevised from a second estimate and following a 0.4 percent expansion in the previous period. It was the weakest growth rate since the second quarter of 2014 mainly due to a negative contribution from external demand. Among the bloc's largest economies, Germany and Italy posted contractions, while France's growth picked up and Spain's expansion remained solid. 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 0.60 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 0.50 in 12 months time. In the long-term, the Euro Area GDP Growth Rate is projected to trend around 0.70 percent in 2020, according to our econometric models.

Euro Area GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-07 09:00 AM GDP Growth Rate QoQ 3rd Est 0.4% 0.4% 0.4% 0.4%
2018-10-30 10:00 AM GDP Growth Rate QoQ Flash 0.2% 0.4% 0.4% 0.5%
2018-11-14 10:00 AM GDP Growth Rate QoQ 2nd Est 0.2% 0.4% 0.2% 0.2%
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% 0.6%
2019-02-14 10:00 AM GDP Growth Rate QoQ 2nd Est 0.2% 0.6%
2019-03-07 10:00 AM GDP Growth Rate QoQ 3rd Est 0.2% 0.6%



Eurozone Q3 GDP Growth Confirmed at Near 4-Year Low

The Eurozone economy grew 0.2 percent on quarter in the three months to September 2018, unrevised from a second estimate and following a 0.4 percent expansion in the previous period. It was the weakest growth rate since the second quarter of 2014 mainly due to a negative contribution from external demand.

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

Household consumption edged up 0.1 percent in the third quarter, following a 0.2 percent gain in the previous period. In addition, fixed investment rose 0.2 percent (vs 1.5 percent in Q2) and government spending increased also 0.2 percent (vs 0.4 percent in Q2). On the other hand, imports advanced 0.5 percent, after a 1.1 percent climb in the previous period, while exports fell 0.1 percent, compared with a 1 percent surge in Q2.

From the production side, services activity was the main driver of growth supported by trade, transport, accommodation and food service activities (0.2 percent vs 0.5 percent); information and communication (0.9 percent vs 1.4 percent); financial and insurance activities (0.3 percent vs 0.6 percent); real estate activities (0.4 percent vs flat reading); and administration and other public services (0.2 percent, the same as in Q2). Also, construction advanced 0.6 percent (vs 1.1 percent in Q2). By contrast, industry output shrank 0.2 percent (vs 0.4 percent in Q2), dragged by manufacturing (-0.4 percent vs 0.6 percent).

Among the bloc's largest economies, Germany's output contracted 0.2 percent in the third quarter (vs 0.5 percent in Q2), the first output fall since Q1 2015 due to a drop in both exports and household consumption. Also, Italy's economy shrank 0.1 percent (vs 0.2 percent in Q2), the first contraction since Q2 2014, due to declines in investment and private consumption. On the other hand, France's GDP growth rate was the strongest in almost a year (0.4 percent vs 0.2 percent in Q2) and the Spanish economy continued to expand at a solid pace (0.6 percent, the same as in Q2)

Compared with the same quarter of the previous year, the Euro Area economy expanded 1.6 percent in the three months to September, below a second estimate of 1.7 percent and following a 2.2 percent growth in the previous period.

Considering the European Union as a whole, GDP growth eased to 0.3 percent quarter-on-quarter (vs 0.5 percent in Q2); and to 1.8 percent year-on-year (vs 2.1 percent in Q2).



Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
12/7/2018 10:26:59 AM



Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 0.40 1.30 -3.00 percent [+]
GDP Annual Growth Rate 1.60 2.20 5.00 -5.50 percent [+]
GDP 12589.50 11934.74 14113.09 245.48 USD Billion [+]
GDP Constant Prices 2646.23 2642.13 2646.23 1768.47 EUR Billion [+]
Gross Fixed Capital Formation 555.80 554.79 575.56 381.17 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.40 1.30 -3.00 1995 - 2018 percent Quarterly
SA




Country Last Previous
United States 3.40 Sep/18
Indonesia 3.09 Sep/18
South Africa 2.20 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Singapore 1.60 Dec/18
Russia 0.90 Jun/18
Brazil 0.80 Sep/18
Mexico 0.80 Sep/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
Canada 0.50 Sep/18
Australia 0.30 Sep/18
France 0.30 Sep/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Saudi Arabia -0.05 Mar/18
Italy -0.10 Sep/18
Germany -0.20 Sep/18
Switzerland -0.20 Sep/18
Japan -0.60 Sep/18
Argentina -0.70 Sep/18
Turkey -1.10 Sep/18


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