Euro Area GDP Growth Rate
2022 Data – 2023 Forecast – 1995-2021 Historical
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The Eurozone economy grew slightly by 0.1 percent in the final quarter of 2022, easing from a 0.3 percent expansion in the previous three-month period but beating market consensus of a 0.1 percent contraction, a preliminary estimate showed.It was the weakest pace of expansion since the first three months of 2021 as demand and activity were hit by high inflation and rising borrowing costs, as well as supply chain bottlenecks.Amongst the bloc’s largest economies, the GDP grew in Spain (0.2 percent, the same as in Q3) and France (0.1 percent vs 0.2 percent), but contracted in Germany (-0.2 percent vs 0.5 percent) and Italy (-0.1 percent vs 0.5 percent).
source:
EUROSTAT
GDP Growth Rate in the Euro Area averaged 0.38 percent from 1995 until 2022, reaching an all time high of 12.40 percent in the third quarter of 2020 and a record low of -11.50 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 January of 2023.
GDP Growth Rate in Euro Area is expected to be -0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.
In the long-term, the Euro Area GDP Growth Rate is projected to trend around 0.30 percent in 2024 and 0.40 percent in 2025, according to our econometric models.
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Calendar
GMT
Reference
Actual
Previous
Consensus
TEForecast
2022-12-07
10:00 AM
QoQ 3rd Est
Q3
0.3%
0.8%
0.2%
0.2%
2023-01-31
10:00 AM
QoQ Flash
Q4
0.1%
0.3%
-0.1%
0.0%
2023-02-14
10:00 AM
QoQ 2nd Est
Q4
0.3%
0.1%
0.1%
Related
Last
Previous
Unit
Reference
GDP Growth Rate
0.10
0.30
percent
Dec 2022
GDP Annual Growth Rate
1.90
2.30
percent
Dec 2022
GDP Constant Prices
2915.17
2906.37
EUR Billion
Sep 2022
Gross Fixed Capital Formation
642.50
620.16
EUR Billion
Sep 2022
Full Year GDP Growth
3.50
5.30
percent
Dec 2022
GDP Growth Annualized
1.30
3.20
percent
Sep 2022
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.
Actual
Previous
Highest
Lowest
Dates
Unit
Frequency
0.10
0.30
12.40
-11.50
1995 – 2022
percent
Quarterly
SA
Compare
GDP Growth Rate by Country
News Stream
Eurozone GDP Unexpectedly Grows in Q4
The Eurozone economy grew slightly by 0.1 percent in the final quarter of 2022, easing from a 0.3 percent expansion in the previous three-month period but beating market consensus of a 0.1 percent contraction, a preliminary estimate showed.It was the weakest pace of expansion since the first three months of 2021 as demand and activity were hit by high inflation and rising borrowing costs, as well as supply chain bottlenecks.Amongst the bloc’s largest economies, the GDP grew in Spain (0.2 percent, the same as in Q3) and France (0.1 percent vs 0.2 percent), but contracted in Germany (-0.2 percent vs 0.5 percent) and Italy (-0.1 percent vs 0.5 percent).
2023-01-31
Eurozone Q3 GDP Growth Revised Higher
The Eurozone quarterly economic growth was revised slightly higher to 0.3 percent in the third quarter of 2022 from preliminary estimates of 0.2 percent, and following a 0.8 percent expansion in the previous three-month period.
Fixed investment was the main driver of growth, rising by 3.6 percent in the third quarter (vs 0.9 percent in Q2).In addition, household consumption advanced 0.9 percent (vs 1.0 percent in Q2) and government spending increased by a meager 0.1 percent (vs -0.1 percent in Q2).
On the other hand, net external demand contributed negatively to the GDP, as imports jumped 4.3 percent and exports rose at a slower 1.7 percent.Amongst EA largest economies, Italy and Germany grew by 0.5 percent and 0.4 percent, respectively, while the economies of France and Spain expanded 0.2 percent and the Netherlands contracted by 0.2 percent.
2022-12-07
Euro Area GDP Growth Rate Confirmed at 0.2% in Q3
The Eurozone economy expanded 0.2% on quarter in the three months to September of 2022, in line with the first estimate.It marks a sixth straight quarter of expansion but the weakest in the current sequence.Among the biggest economies, German GDP grew faster (0.3% vs 0.1% in Q2), while France (0.2% vs 0.5%), Italy (0.5% vs 1.1%) and Spain (0.2% vs 1.5%) slowed.
Meanwhile, the Euro Area is set to fall into recession in the last quarter of the year and first three months of 2023, while returning to growth in spring next year, according to the European Commission.High inflation and the ongoing energy crisis is eroding households’ purchasing power and cutting production while high interest rates and tighter financing conditions are also weighing.
2022-11-15
Related
Euro on Track to Gain Nearly 1% in January
Eurozone GDP Unexpectedly Grows in Q4
Eurozone Services Sentiment Improves to 7-Month High
Eurozone Industrial Sentiment Climbs to 5-Month High
Eurozone Economic Sentiment Hits 7-Month High
Euro Area Consumer Confidence Confirmed at 11-Month High
Household Lending in Euro Area Continues to Slow
Eurozone Services Sector Back into Growth in January
Eurozone Private Activity Returns to Growth
Euro Area Manufacturing Activity Shrinks the Least in 5 Months
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