Euro Area GDP Growth Rate

The Gross Domestic Product (GDP) In the Euro Area expanded 0.20 percent in the fourth quarter of 2013 over the previous quarter. GDP Growth Rate In the Euro Area is reported by the Eurostat. GDP Growth Rate in the Euro Area averaged 0.35 Percent from 1995 until 2013, 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. 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. 2014-04-17

Actual Previous Highest Lowest Forecast Dates Unit Frequency
0.20 0.10 1.30 -2.80 0.40 | 2014/03 1995 - 2013 Percent Quarterly

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Euro Area GDP Growth Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-10 10:00 AM Euro Area
GDP Growth Rate QoQ - 3 Est
Q3 2013 0.1% 0.3% 0.1% 0.14%
2014-02-14 10:00 AM Euro Area
GDP Growth Rate QoQ Flash
Q4 2013 0.3% 0.1% 0.2% 0.33%
2014-03-05 10:00 AM Euro Area
GDP Growth Rate QoQ - 2 Est
Q4 2013 0.3% 0.1% 0.3% 0.3%
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% 0.4%
2014-06-04 10:00 AM Euro Area
GDP Growth Rate QoQ - 2 Est
Q1 2014 0.2%
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GDP Last Previous Highest Lowest Forecast Unit
GDP Constant Prices 2136.18 2013-11-15 2129.87 2179.28 1593.80 2116.57 2014-02-28 EUR Billion [+]
GDP per capita 31948.97 2012-12-31 32218.08 32889.96 9394.61 31852.12 2013-12-31 USD [+]
GDP per capita PPP 35392.52 2011-12-31 34160.05 35392.52 8950.54 35492.25 2012-12-31 USD [+]
GDP Growth Rate 0.20 2013-12-31 0.10 1.30 -2.80 0.40 2014-03-31 Percent [+]
GDP Annual Growth Rate 0.50 2013-12-31 -0.30 5.00 -5.50 0.50 2014-03-31 Percent [+]
Gross Fixed Capital Formation 383.46 2013-11-15 380.15 493.10 297.44 375.35 2014-03-31 EUR Billion [+]
GDP 12194.82 2012-12-31 13075.79 13581.63 245.62 11821.23 2013-12-31 USD Billion [+]
[+]


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.

In the EU 28, the GDP rose 0.4 percent compared with the previous quarter, unrevised from the first and second estimates.

Household final consumption expenditure rose by 0.1 percent in both the euro area and the EU-28 (after 0.1 percent and 0.3 percent respectively in the previous quarter). 

Gross fixed capital formation increased by 1.1 percent in both zones (after 0.5 percent in the euro area and 0.7 percent in the EU 28). 

Exports rose by 1.3 percent in the euro area (revised up from 1.2 percent in the previous estimates) and 1.1 percent in the EU 28 (after 0.1 percent and 0.0 percent, respectively in the previous quarter). 

Imports increased by 0.5 percent in the euro area (up from a preliminary 0.4 percent expansion) and by 0.2 percent in the EU-28 (after 0.9 percent and 1.1 percent in the previous quarter).

The contribution of household final consumption expenditure was neutral to GDP growth in the euro area and positive in the EU-28 (+0.1 percentage points). The contribution of gross fixed capital formation was positive in both zones (+0.2 percentage points), while the change in inventories negative (-0.3 percentage points in both zones). The contribution of the external balance was positive due to strong exports. 

Among euro area member states, Netherlands (0.9 percent qoq, up from an initial 0.7 percent estimate), Portugal (0.6 percent, up from a preliminary 0.5 percent), Belgium (0.5 percent qoq) and Germany (0.4 percent qoq) recorded the highest growth rates. 

Over the whole year 2013, the GDP fell by 0.4 percent in the euro area, less than a 0.5 percent contraction initially reported. In the EU 28, the economy advanced 0.1 percent.  

Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
4/2/2014 10:59:26 AM

RECENT RELEASES

Euro Area GDP Growth Confirmed at 0.3%
In the last quarter of 2013, Euro Area’s GDP growth accelerated to 0.3 percent over the previous quarter, matching initial estimates and boosted by investment and exports. The figure compares with 0.1 percent growth in the previous three-month period. Published on 2014-03-05

Euro Area GDP Beats Expectations
Euro Area GDP advanced 0.3 percent in the last quarter of 2013, according to flash estimates, as France, Germany, the Netherlands and Portugal showed better-than-expected growth rates and the Italian economy returned to growth. Published on 2014-02-14


GDP Growth Rate | Notes
The GDP Growth Rate shows a percentage change in the seasonally adjusted GDP value in the certain quarter, compared to the previous quarter. Because of climatic conditions and holidays, the intensity of the production varies throughout the year. This makes a direct comparison of two consecutive quarters difficult. In order to adjust for these conditions, many countries calculate the quarterly GDP using so called seasonally adjusted method. The Gross Domestic Product can be determined using three different approaches: the product, the income, and the expenditure technique, which should give the same result. In sum, the product technique sums the outputs of every class of enterprise. The expenditure technique works on the principle that every product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying products and services. The income technique works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.


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