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

The Eurozone economy expanded 0.6 percent on quarter in the first three months of 2017, better than a second estimate of 0.5 percent and following a 0.5 percent advance in the previous period. It was the strongest growth rate since the first quarter of 2015, mainly boosted by fixed investment and household consumption. Growth picked up in Germany, Spain and Italy but slowed in France. Year-on-year, the GDP advanced 1.9 percent, also higher than early estimates of 1.7 percent expansion. 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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Calendar GMT Actual Previous Consensus Forecast (i)
2017-05-03 09:00 AM Q1 0.5% 0.5% 0.5% 0.6%
2017-05-16 09:00 AM Q1 0.5% 0.5% 0.5% 0.5%
2017-06-08 09:00 AM Q1 0.6% 0.5% 0.5% 0.5%
2017-08-01 09:00 AM Q2 0.6% 0.4%
2017-08-16 09:00 AM Q2 0.6% 0.4%
2017-09-06 09:00 AM Q2 0.6% 0.4%




Eurozone Economy Grows The Most Since Q1 2015


The Eurozone economy expanded 0.6 percent on quarter in the first three months of 2017, better than a second estimate of 0.5 percent and following a 0.5 percent advance in the previous period. It was the strongest growth rate since the first quarter of 2015, mainly boosted by fixed investment and household consumption. Growth picked up in Germany, Spain and Italy but slowed in France.

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

Gross fixed capital formation jumped by 1.3 percent (3.4 percent in Q4 2016), household consumption increased by 0.3 percent (0.4 percent in Q4) and government spending advanced by 0.4 percent (0.3 percent in Q4). Meanwhile, exports rose 1.2 percent (1.7 percent in Q4) and imports went up at a faster 1.3 percent (3.8 percent in Q4).

From the production side, industry grew by 0.2 percent (0.7 percent in Q4), boosted by manufacturing (0.6 percent from 0.5 percent in Q4). Construction advanced by 1.1 percent (0.2 percent in Q4) and agriculture jumped 2.1 percent (0.1 percent in Q4). Among services, output rose for: trade, transport, accommodation and food service activities (0.6 percent from 0.7 percent in Q4); information and communication (0.7 percent from 0.3 percent in Q4); financial and insurance activities (0.9 percent from -0.3 percent in Q4); real estate activities (0.5 percent from 0.4 percent); professional and support service activities (1.2 percent from 0.6 percent in Q4); and administration and other public services (0.2 percent from 0.4 percent in Q4). 

Among countries for which data is already available, GDP expanded at a faster pace in: Germany (0.6 percent from 0.4 percent in Q4); Spain (0.8 percent from 0.7 percent); Italy (0.4 percent from 0.3 percent); Finland (1.2 percent from 0.6 percent); Belgium (0.6 percent from 0.4 percent); Latvia (1.6 percent from 1.2 percent); Portugal (1 percent from 0.7 percent); and Slovenia (1.5 percent from 1.3 percent). Meanwhile, GDP growth was unchanged in Austria (at 0.6 percent) and Slovakia (at 0.8 percent); and slowed in: France (0.4 percent from 0.5 percent in Q4); Estonia (0.8 percent from 1.9 percent); Cyprus (0.6 percent from 0.7 percent); Lithuania (1.4 percent from 1.5 percent); and the Netherlands (0.4 percent from 0.6 percent). Greek GDP rebounded 0.4 percent after contracting 1.1 percent in the previous period.

Year-on-year, the economy advanced 1.9 percent, also better than preliminary figures of 1.7 percent and following a 1.8 percent expansion in the previous three months. 

Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
6/8/2017 3:33:12 PM



Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.50 1.30 -3.00 percent [+]
GDP Annual Growth Rate 1.90 1.80 5.00 -5.50 percent [+]
GDP 11885.66 11616.14 14115.37 245.39 USD Billion [+]
GDP Constant Prices 2547.55 2532.82 2547.55 1768.95 EUR Billion [+]
Gross Fixed Capital Formation 532.34 525.46 571.47 381.87 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 Notes

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 July of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.50 1.30 -3.00 1995 - 2017 percent Quarterly
SA



gdp growth rate by Country

Last
China 1.70 Jun/17
India 1.50 Mar/17
Turkey 1.40 Mar/17
United States 1.40 Mar/17
South Korea 1.10 Mar/17
Brazil 1.00 Mar/17
Canada 0.90 Mar/17
Spain 0.80 Mar/17
Mexico 0.70 Mar/17
Euro Area 0.60 Mar/17
Germany 0.60 Mar/17
France 0.50 Mar/17
Italy 0.40 Mar/17
Netherlands 0.40 Mar/17
Australia 0.30 Mar/17
Japan 0.30 Mar/17
Switzerland 0.30 Mar/17
United Kingdom 0.20 Mar/17
Indonesia -0.34 Mar/17
Russia -0.57 Sep/15