Euro Area GDP Growth Rate  1995-2017 | Data | Chart | Calendar | Forecast

The Euro Area economy advanced 0.4 percent on quarter in the three months to December of 2016, the same as in the previous period and in line with the second estimate. Household consumption and fixed investment were the main drivers of growth while net external demand contributed negatively. Compared with the same quarter of 2015, the economy grew 1.7 percent, also in line with earlier estimates. Over the whole year 2016, GDP advanced by 1.7 percent after growing by 2 percent in 2015. GDP Growth Rate in the Euro Area averaged 0.37 percent from 1995 until 2016, reaching an all time high of 1.30 percent in the second quarter of 1997 and a record low of -3 percent in the first quarter of 2009.

Euro Area GDP Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2017-01-31 10:00 AM Q4 0.5% 0.4% 0.4% 0.4%
2017-02-14 10:00 AM Q4 0.4% 0.3% 0.5% 0.5%
2017-03-07 10:00 AM Q4 0.4% 0.4% 0.4% 0.4%
2017-05-03 09:00 AM Q1 0.4% 0.3%
2017-05-16 09:00 AM Q1 0.4% 0.3%
2017-06-07 09:00 AM Q1 0.4% 0.3%




Eurozone Q4 GDP Growth Confirmed At 0.4%


The Euro Area economy advanced 0.4 percent on quarter in the three months to December of 2016, the same as in the previous period and in line with the second estimate. Compared with the same quarter of 2015, the bloc's economy grew 1.7 percent, also in line with earlier estimate.

From the expenditure side, the positive contribution to GDP came mainly from household final consumption expenditure (0.2 percentage points), gross fixed capital formation (0.1 percentage points), changes in inventories (0.1 percentage points), and government spending (0.1 percentage points). In contrast, net trade subtracted 0.1 percentage points from growth.

Household consumption increased by 0.4 percent (0.3 percent in Q3), gross fixed capital formation rose 0.6 percent (-0.7 percent in Q3) and government spending advanced by 0.4 percent (0.1 percent in Q3). Meanwhile, exports rose 1.5 percent (0.3 percent in Q3) and imports increasing at a faster 2 percent (-0.1 percent in Q3).

From the production side, industry grew by 0.4 percent (0.7 percent in Q3), boosted by manufacturing (0.3 percent from 0.7 percent in Q3). Construction advanced by 0.6 percent (0.4 percent in Q3). Among services, output rose for: trade, transport, accommodation and food service activities (0.7 percent from 0.4 percent in Q3); information and communication (0.6 percent from 1.1 percent); administration and other public services (0.2 percent from 0.3 percent in Q3), real estate activities (0.3 percent from 0.2 percent in Q3); professional and support service activities (0.3 percent from 0.4 percent in Q3); and agriculture, forestry and fishing (0.1 percent from -0.7 percent in Q3). By contrast, financial and insurance activities showed no growth (0.1 percent in Q3).

Among countries for which data is already available, GDP expanded at a faster pace in: Germany (0.4 percent from 0.1 percent in Q3); France (0.4 percent from 0.2 percent); Belgium (0.5 percent from 0.2 percent); Estonia (1.9 percent from 0.5 percent); Latvia (1.1 percent from 0.3 percent); Lithuania (1.4 percent from 0.5 percent); Slovakia (0.8 percent from 0.7 percent); and Slovenia (1.2 percent from 1 percent). Meanwhile, GDP growth was unchanged in Spain (at 0.7 percent) and in Austria (at 0.6 percent); and slowed in: Italy (0.2 percent from 0.3 percent in Q3); Cyprus (0.5 percent from 0.8 percent); the Netherlands (0.5 percent from 0.8 percent); and Portugal (0.6 percent from 0.9 percent).

By contrast, the Greek economy contracted 1.2 percent (0.6 percent in Q3) and the Finnish GDP showed no growth (0.6 percent in Q3).

Year-on-year, the economy advanced 1.7 percent, following a 1.8 percent expansion in the previous three months and in line with preliminary figures. 

Over the whole year 2016, GDP advanced by 1.7 percent after growing by 2 percent in 2015.

Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
3/7/2017 12:32:54 PM



Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.40 1.30 -3.00 percent [+]
GDP Annual Growth Rate 1.70 1.80 5.00 -5.50 percent [+]
GDP 11602.40 13449.40 14114.70 245.39 USD Billion [+]
GDP Constant Prices 2528.84 2518.57 2528.84 1768.79 EUR Billion [+]
Gross Fixed Capital Formation 508.06 505.19 571.64 381.91 EUR Billion [+]
GDP per capita 38594.34 37914.51 38822.12 10808.80 USD [+]
GDP per capita PPP 37736.90 37068.20 38040.50 28119.59 USD [+]


Euro Area GDP Growth Rate Notes

The Euro Area is an economic and monetary union of 19 European Union 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 fourth most populous with 340 million inhabitants. Germany, France, Italy and Spain are the most important economies accounting respectively for 29 percent, 21 percent, 16 percent and 11 percent of Union’s GDP. This page provides - Euro Area GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on April of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.40 1.30 -3.00 1995 - 2016 percent Quarterly
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China 1.30 Mar/17
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Australia 1.10 Dec/16
Ghana 1.10 Sep/16
Latvia 1.10 Dec/16
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Bosnia and Herzegovina 1.00 Sep/16
Colombia 1.00 Dec/16
Mauritius 1.00 Dec/16
Mongolia 1.00 Dec/16
Sweden 1.00 Dec/16
Albania 0.90 Dec/16
Bulgaria 0.90 Dec/16
Saudi Arabia 0.90 Sep/16
Slovakia 0.80 Dec/16
Uganda 0.80 Dec/16
Cyprus 0.70 Dec/16
Mexico 0.70 Dec/16
Spain 0.70 Dec/16
United Kingdom 0.70 Dec/16
Canada 0.60 Dec/16
Croatia 0.60 Dec/16
Moldova 0.60 Dec/16
Netherlands 0.60 Dec/16
Peru 0.60 Dec/16
Portugal 0.60 Dec/16
Argentina 0.50 Dec/16
Austria 0.50 Dec/16
Belgium 0.50 Dec/16
Denmark 0.50 Dec/16
Ecuador 0.50 Sep/16
European Union 0.50 Dec/16
South Korea 0.50 Dec/16
Taiwan 0.45 Dec/16
Czech Republic 0.40 Dec/16
Euro Area 0.40 Dec/16
France 0.40 Dec/16
Germany 0.40 Dec/16
Hungary 0.40 Dec/16
New Zealand 0.40 Dec/16
Thailand 0.40 Dec/16
Cameroon 0.30 Mar/16
Japan 0.30 Dec/16
Italy 0.20 Dec/16
Serbia 0.20 Dec/16
Tunisia 0.20 Dec/16
Botswana 0.10 Dec/16
Kenya 0.10 Sep/16
Switzerland 0.10 Dec/16
Belize 0.04 Sep/16
Finland 0.00 Dec/16
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South Africa -0.30 Dec/16
Chile -0.40 Dec/16
Bolivia -0.56 Mar/16
Russia -0.57 Sep/15
Brazil -0.90 Dec/16
Jamaica -1.10 Dec/16
Rwanda -1.10 Dec/16
Greece -1.20 Dec/16
Mozambique -1.70 Dec/16
Namibia -1.70 Dec/16
Senegal -1.70 Sep/16
Indonesia -1.77 Dec/16
Singapore -1.90 Mar/17
Qatar -2.10 Oct/16
Dominican Republic -2.18 Sep/16
Bahrain -2.70 Dec/16
Trinidad And Tobago -3.30 Sep/16