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

The Gross Domestic Product (GDP) In the Euro Area expanded 0.10 percent 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
0.10 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. Content for - Euro Area GDP Growth Rate - was last refreshed on Saturday, November 1, 2014.


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.

The Eurostat switched to a new method to compute national accounts. The new estimation method known as ESA 2010 provides a revised set of concepts, definitions, classifications and accounting rules that enable the EU Member States to produce consistent, reliable and comparable statistical descriptions of their economies. The new measure takes into account activities such as research and development spending and expenditure on weapon systems that were not included in the old method ESA 95.

While there is an impact on the GDP levels, the effect of the changes on growth rates for both the EU and the euro area aggregates is very limited. The change in the annual GDP growth rates over the years 1997-2013 was around +/-0.1 percentage points for both the euro area and the EU28.

Further to ESA 2010 based estimations, seasonally adjusted GDP increased by 0.1 percent in the euro area and by 0.2 percent in the EU-28 in the second quarter of 2014, compared with the previous quarter. In the last ESA 95 based estimation, the figures were 0.0 percent and +0.2 percent respectively.

For the first quarter of 2014, further to ESA 2010 estimations, GDP grew by 0.3 percent in the euro area and by 0.4 percent in the EU-28, revised slightly upwards compared with +0.2 percent and +0.3 percent respectively further to ESA 95 based estimations.

Compared with the same quarter of the previous year, seasonally adjusted GDP further to ESA 2010 based estimations rose by 0.8 percent in the euro area and by 1.3 percent in the EU-28 in the second quarter of 2014, after +1.0 percent and +1.5 percent respectively in the previous quarter. This constitutes again a slight upward revision compared with the ESA 95 estimation.

Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
10/17/2014 12:58:32 PM


Recent Releases

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. Published on 2014-09-05

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


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%
2014-11-14 10:00 AM Euro Area
GDP Growth Rate QoQ Flash
Q3 2014 0.1% 0.1% 0.18%


Euro Area GDP Last Previous Highest Lowest Unit
GDP 12749.93 12212.83 13581.63 245.62 USD Billion [+]
GDP Growth Rate 0.10 0.30 1.30 -2.80 Percent [+]
GDP Annual Growth Rate 0.80 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 35830.41 36089.43 37042.75 27826.11 USD [+]