Euro Area GDP Growth Rate

The Gross Domestic Product (GDP) in the Euro Area expanded 0.20 percent in the first quarter of 2014 over the previous quarter. GDP Growth Rate in the Euro Area averaged 0.35 Percent from 1995 until 2014, reaching an all time high of 1.30 Percent in the second quarter of 1997 and a record low of -2.80 Percent in the first quarter of 2009. GDP Growth Rate in the Euro Area is reported by the Eurostat.

   
 
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Euro Area GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.30 1.30 -2.80 1995 - 2014 Percent Quarterly
SA
The Euro Area is an economic and monetary union of 18 European Union countries that adopted the euro as their currency. The countries it comprises are: Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Luxembourg, Malta, Netherlands, Portugal, Slovakia, Slovenia and Spain. The Euro Area is the second largest economy in the world and if it was a country it would be the fourth most populous with 330 million inhabitants. France, Germany, Italy and Spain are the most important economies accounting for over 74 percent of the Union’s GDP. The current economic crisis affecting some of the Euro Zone peripheral countries has been raising doubts over the euro’s future and is the major obstacle to growth. This page provides - Euro Area GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.


Euro Area GDP Growth Slows in Q1


The Euro Area economy advanced 0.2 percent quarter-on-quarter in the first three months of 2014, slowing from a revised 0.3 percent expansion in the previous quarter and matching initial estimates. Growth was mainly driven by household consumption, while exports and investment slowed sharply.

In the EU28, the GDP increased 0.3 percent. 

Household final consumption expenditure had a positive contribution to GDP growth (+0.1 percentage points) both in the euro area and the EU 28, as did gross fixed capital formation (+0.1pp in both zones). The contribution of the external balance to GDP growth was negative (-0.2pp in the euro area and -0.3pp in the EU28). The contribution of changes in inventories was positive (+0.2pp in the euro area and +0.3pp in the EU28).

Among Member States for which data are available for the first quarter of 2014, Hungary and Poland (both +1.1 percent), Denmark (+0.9 percent), Germany and the United Kingdom (both +0.8 percent) recorded the highest growth compared with the previous quarter. The Netherlands (-1.4 percent), Estonia (-1.2 percent), Cyprus and Portugal (both -0.7 percent) registered the largest decreases.  

During the first quarter of 2014, household final consumption expenditure rose by 0.1 percent in the euro area and by 0.2 percent in the EU28 (after 0.0 percent and +0.1 percent respectively in the previous quarter). Gross fixed capital formation increased by 0.3 percent in the euro area and by 0.6 percent in the EU28 (after +0.9 percent and +1.0 percent). Exports rose by 0.3 percent in the euro area and by 0.4 percent in the EU28 (after +1.4 percent and +1.5 percent). Imports increased by 0.8 percent in the euro area and by 1.1 percent in the EU28 (after +0.7 percent and +0.5 percent). 

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 0.9 percent in the euro area and by 1.4 percent in the EU28 in the first quarter of 2014, after +0.5 percent and +1.0 percent respectively in the previous quarter.

Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
6/4/2014 10:23:53 AM


Recent Releases

Euro Area Recovery Fails to Gather Momentum
Euro Area GDP advanced 0.2 percent in the first quarter of 2014, the same rate recorded in the previous period and below market expectations. While Germany posted strong growth, France stagnated and Italy contracted. Published on 2014-05-15

Euro Area GDP Growth Revised Down in Q4
The Euro Area economy advanced 0.2 percent in the last quarter of 2013, according to the third estimate released by the Eurostat. The final figure comes below a 0.3 percent expansion earlier reported, as growth of exports and imports was revised. Published on 2014-04-02


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-04-02 10:00 AM Euro Area
GDP Growth Rate QoQ - 3 Est
Q4 2013 0.2% 0.1% 0.3% 0.3%
2014-05-15 10:00 AM Euro Area
GDP Growth Rate QoQ Flash
Q1 2014 0.2% 0.2% 0.4% 0.4%
2014-06-04 10:00 AM Euro Area
GDP Growth Rate QoQ - 2 Est
Q1 2014 0.2% 0.3% (R) 0.2% 0.2%
2014-07-02 10:00 AM Euro Area
GDP Growth Rate QoQ - 3 Est
Q1 2014 0.2% 0.2% 0.2% 0.2%
2014-08-14 10:00 AM Euro Area
GDP Growth Rate QoQ Flash
Q2 2014 0.2% 0.42%


GDP Last Previous Highest Lowest Unit
GDP 12749.93 12212.83 13581.63 245.62 USD Billion [+]
GDP Growth Rate 0.20 0.30 1.30 -2.80 Percent [+]
GDP Annual Growth Rate 0.90 0.50 5.00 -5.50 Percent [+]
GDP Constant Prices 2140.60 2135.62 2179.28 1593.80 EUR Billion [+]
GDP per capita 31806.76 32021.58 32794.08 9249.30 USD [+]
Gross Fixed Capital Formation 384.32 383.44 493.10 297.44 EUR Billion [+]
GDP per capita PPP 35392.52 34160.05 35392.52 8950.54 USD [+]





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