Euro Area GDP Growth Rate 1995-2014 | Data | Chart | Calendar | Forecast

The Gross Domestic Product (GDP) in the Euro Area stagnated in the second 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.

   
 
 

Euro Area GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.00 0.20 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. Content for - Euro Area GDP Growth Rate - was last refreshed on Wednesday, September 17, 2014.


Euro Area Economy Stalls in Q2


Euro Area seasonally adjusted GDP stagnated in the April to June period, according to second estimates released by Eurostat and matching the advance figures. A rise in household consumption was not enough to offset falling investment and inventories. In the EU 28 the GDP rose by 0.2 percent.

During the second quarter of 2014, household final consumption expenditure rose by 0.3 percent in the euro area and by 0.4 percent in the EU28 (after +0.2 percent and +0.4 percent respectively in the previous quarter). Gross fixed capital formation decreased by 0.3 percent in the euro area and by 0.1 percent in the EU28 (after +0.2 percent and +0.5 percent). Exports rose by 0.5 percent in the euro area and by 0.3 percent in the EU28 (after +0.1 percent and +0.5 percent). Imports increased by 0.3 percent in the euro area and by 0.4 percent in the EU28 (after +0.8 percent and +1.2 percent). 

Household final consumption expenditure had a positive contribution to GDP growth (+0.2 percentage points) in both the euro area and the EU28. Gross fixed capital formation had a negative contribution to GDP growth in the euro area (-0.1pp) and had no influence to the growth of GDP in the EU28 (0.0pp). The contribution of the external balance to GDP growth was positive (+0.1pp) in the euro area and with no influence (0.0 pp) in the EU28. The contribution of changes in inventories was negative (-0.2 pp in the euro area and -0.1pp in the EU28).

Among Member States for which data are available for the second quarter of 2014, Malta (+1.3 percent), Latvia (+1.0 percent), Lithuania, Hungary and the United Kingdom (all +0.8 percent) recorded the highest growth compared with the previous quarter. Romania (-1.0% percent), Denmark and Cyprus (both -0.3 percent), Germany and Italy (both -0.2 percent) registered decreases.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 0.7 percent in the euro area and by 1.2 percent in the EU28 in the second quarter of 2014, after +1.0 percent and +1.4 percent respectively in the previous quarter.

Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
9/5/2014 10:17:21 AM


Recent Releases

Euro Area GDP Growth Halts in Q2
Euro Area seasonally adjusted GDP remained stable in the second quarter of 2014, compared with the previous quarter, according to the flash estimate. Strong numbers in Spain and Netherlands were not enough to offset shrinking growth in Germany and Italy and stagnant France. Published on 2014-08-14

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. Published on 2014-06-04


Calendar GMT Country Event Reference Actual Previous Consensus Forecast
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 0.0% 0.2% 0.1% 0.1%
2014-09-05 10:00 AM Euro Area
GDP Growth Rate QoQ - 2 Est
Q2 2014 0.0% 0.2% 0.0% 0.0%
2014-10-01 10:00 AM Euro Area
GDP Growth Rate QoQ - 3 Est
Q2 2014 0.2% 0.0% 0.0%


GDP Last Previous Highest Lowest Unit
GDP 12749.93 12212.83 13581.63 245.62 USD Billion [+]
GDP Growth Rate 0.00 0.20 1.30 -2.80 Percent [+]
GDP Annual Growth Rate 0.70 1.00 5.00 -5.50 Percent [+]
GDP Constant Prices 2145.50 2140.60 2179.57 1593.71 EUR Billion [+]
GDP per capita 31806.76 32021.58 32794.08 9249.30 USD [+]
Gross Fixed Capital Formation 383.31 384.53 475.22 319.75 EUR Billion [+]
GDP per capita PPP 35392.52 34160.05 35392.52 8950.54 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.50 Jun/14 1.10 4.50 -2.00 Percent [+]
Brazil -0.60 Jun/14 -0.20 4.50 -4.20 Percent [+]
Canada 0.80 Jun/14 0.20 3.33 -1.80 Percent [+]
China 2.00 Jun/14 1.50 2.50 1.40 Percent [+]
Euro Area 0.00 Jun/14 0.20 1.30 -2.80 Percent [+]
France 0.00 Jun/14 0.00 1.60 -1.70 Percent [+]
Germany -0.20 Jun/14 0.70 2.10 -3.70 Percent [+]
India 1.20 Jun/14 1.90 5.80 -1.90 Percent [+]
Indonesia 2.47 Jun/14 0.97 3.82 -3.57 Percent [+]
Italy -0.20 Jun/14 -0.10 6.00 -3.50 Percent [+]
Japan -1.80 Jun/14 1.50 3.20 -4.00 Percent [+]
Mexico 1.00 Jun/14 0.44 2.90 -6.60 Percent [+]
Netherlands 0.50 Jun/14 -0.40 2.00 -2.20 Percent [+]
Russia -0.30 Mar/14 0.30 4.10 -5.40 Percent [+]
South Korea 0.50 Jun/14 0.90 6.80 -7.00 Percent [+]
Spain 0.60 Jun/14 0.40 1.53 -1.60 Percent [+]
Switzerland 0.00 Jun/14 0.50 1.90 -2.20 Percent [+]
Turkey -0.50 Jun/14 1.80 6.69 -7.57 Percent [+]
United Kingdom 0.80 Jun/14 0.80 5.30 -2.50 Percent [+]
United States 4.20 Jun/14 -2.10 16.90 -10.00 Percent [+]





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