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

The Gross Domestic Product (GDP) In the Euro Area expanded 0.20 percent in the third 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.

      Forecast    
Euro Area GDP Growth Rate


Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.10 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 Sunday, December 21, 2014.


Euro Area Economy Expands 0.2% in Q2


The Eurozone GDP growth was confirmed at 0.2 percent in the third quarter of 2014, up from a 0.1 percent expansion reported from April to June. Household and government expenditure kept the economy growing while investments and external trade contributed negatively to the expansion.

During the third quarter of 2014, household final consumption expenditure rose by 0.5% (after +0.3% in the previous quarter). Gross fixed capital formation decreased by 0.3% (after -1.2%). Exports rose by 0.8% (after +1.4%) and imports increased by 1.2% (after +1.3%).

Household final consumption expenditure had a positive contribution to GDP growth (+0.3 percentage points), followed by government expenditure (+0.1 pp). Gross fixed capital formation had a negative contribution to GDP growth (-0.1pp). The contribution of the external balance was negative with exports contributing 0.3 percentage point to the growth and imports subtracting 0.5 percentage point.  The contribution of changes in inventories was neutral.

Among Euro Area member states, Greece recorded the highest growth rate (0.7 percent), followed by Slovakia (0.6 percent), Spain (0.5 percent), Latvia (0.4 percent) and France (0.3 percent). Belgium, Portugal, the Netherlands, Estonia and Finland expanded 0.2 percent each and Germany advanced 0.1 percent. Austria showed no growth and Italy and Cyprus contracted by 0.1 percent and 0.4 percent, respectively.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 0.8%.

Eurostat | anna@tradingeconomics.com
12/5/2014 10:30:08 AM


Recent Releases

Euro Area GDP Growth Above Expectations
The Eurozone economy advanced 0.2 percent in the third quarter of 2014, up from a 0.1 percent expansion reported from April to June. Preliminary figures came in better than expected, as GDP accelerated in France and Germany avoided recession. Published on 2014-11-14

Euro Area GDP Growth Revised Up
The Eurozone economy advanced 0.1 percent in the second quarter of 2014, stronger than previously estimated and due to changes in the GDP calculating methods introduced by the Eurostat. Annual growth figures were also revised upwards. Published on 2014-10-17


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-05 10:00 AM
GDP Growth Rate QoQ - 2 Est  Q2
0.0% 0.2% 0.0%
2014-11-14 10:00 AM
GDP Growth Rate QoQ - Flash  Q3
0.2% 0.1% 0.1% 0.2%
2014-12-05 10:00 AM
GDP Growth Rate QoQ - 2 Est  Q3
0.2% 0.1% 0.2% 0.2%
2015-02-13 10:00 AM
GDP Growth Rate QoQ Flash  Q4
0.2% 0.09%
2015-03-06 10:00 AM
GDP Growth Rate QoQ - 2 Est  Q4
0.2%
2015-05-13 10:00 AM
GDP Growth Rate QoQ Flash  Q1
0.03%


Euro Area GDP Last Previous Highest Lowest Unit
GDP 12749.93 12212.83 13581.63 245.62 USD Billion [+]
GDP Growth Rate 0.20 0.10 1.30 -2.80 percent [+]
GDP Annual Growth Rate 0.80 0.80 5.00 -5.50 percent [+]
GDP Constant Prices 2409.75 2406.35 2409.75 1593.71 EUR Billion [+]
GDP per capita 31806.76 32021.58 32794.08 9249.30 USD [+]
Gross Fixed Capital Formation 472.48 473.49 475.22 319.75 EUR Billion [+]
GDP per capita PPP 35830.41 36089.43 37042.75 27826.11 USD [+]


GDP Growth Rate Reference Previous Highest Lowest Unit
Australia 0.30 Aug/14 0.50 4.50 -2.00 percent [+]
Brazil 0.10 Aug/14 -0.60 4.50 -4.20 percent [+]
Canada 0.70 Aug/14 0.90 3.33 -1.80 percent [+]
China 1.90 Aug/14 2.00 2.50 1.40 percent [+]
Euro Area 0.20 Aug/14 0.10 1.30 -2.80 percent [+]
France 0.30 Aug/14 -0.10 1.60 -1.70 percent [+]
Germany 0.10 Aug/14 -0.10 2.10 -3.70 percent [+]
India 1.20 May/14 1.90 5.80 -1.90 percent [+]
Indonesia 2.96 Aug/14 2.49 3.82 -3.57 percent [+]
Italy -0.10 Aug/14 -0.20 6.00 -3.50 percent [+]
Japan -0.50 Aug/14 -1.90 3.20 -4.00 percent [+]
Mexico 0.50 Aug/14 0.90 2.90 -6.60 percent [+]
Netherlands 0.20 Aug/14 0.60 2.00 -2.20 percent [+]
Russia 0.04 Aug/14 0.14 4.10 -5.40 percent [+]
South Korea 0.90 Aug/14 0.50 6.80 -7.00 percent [+]
Spain 0.50 Aug/14 0.50 1.53 -1.60 percent [+]
Switzerland 0.60 Aug/14 0.30 1.90 -2.20 percent [+]
Turkey 0.40 Aug/14 -0.50 6.69 -7.57 percent [+]
United Kingdom 0.70 Aug/14 0.90 5.00 -2.70 percent [+]
United States 3.90 Aug/14 4.60 16.90 -10.00 percent [+]