Euro Area GDP Growth Rate
The Gross Domestic Product (GDP) In the Euro Area contracted 0.20 percent in the first quarter of 2013 over the previous quarter. GDP Growth Rate In the Euro Area is reported by the Eurostat. Historically, from 1995 until 2013, Euro Area GDP Growth Rate averaged 0.35 Percent reaching an all time high of 1.30 Percent in June of 1997 and a record low of -2.50 Percent in March of 2009. The Euro Area is an economic and monetary union of 17 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, 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 includes a chart with historical data for Euro Area GDP Growth Rate.
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Euro Area Extends Recession in Q1
Eurostat | Nuno Fontes | nuno@tradingeconomics.com
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5/15/2013 11:51:21 AM
GDP fell by 0.2 percent in the euro area and by 0.1 percent in the EU27 during the first quarter of 2013, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union. In the fourth quarter of 2012, growth rates were -0.6 percent and -0.5 percent respectively.
Falling output across the bloc meant the 17-nation economy shrank 0.2 percent in the January to March period after falling 0.6 percent a quarter earlier. The Eurozone's economy contracted for the sixth straight quarter at the start of this year, marking its longest recession on records dating back to 1995.
As well as France, the economy shrank for the quarter in Finland, Cyprus, Italy, Netherlands, Portugal and Greece. Germany, which generates almost a third of the euro zone's output, grew by a weaker-than-expected 0.1 percent, avoiding a recession but highlighting the devastating impact of the euro zone's debt and banking crisis that has driven unemployment to a record 19 million people.
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Euro Area Second Estimate For GDP Growth Confirms 0.6 Percent Contraction in Q4
GDP fell by 0.6 percent in the euro area and by 0.5 percent in the EU27 during the fourth quarter of 2012, compared with the previous quarter, according to second estimates published by Eurostat. In the third quarter of 2012, growth rates were -0.1 percent and +0.1 percent respectively.
2013-03-06
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Euro Area GDP Down by 0.3%
GDP decreased by 0.3% in both the euro area (EA17) during the fourth quarter of 2011, compared with the previous quarter, according to second estimates released by Eurostat, the statistical office of the European Union. In the third quarter of 2011, growth rate was +0.1%.
2012-03-06
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Euro Area GDP Down By 0.6 Percent in Q4
GDP fell by 0.6 percent in the euro area and by 0.5 percent in the EU27 during the fourth quarter of 2012, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union. Over the whole year 2012, GDP fell by 0.5 percent in the euro area and by 0.3 percent in the EU27.
2013-02-14
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Euro Area GDP Down by 0.3% in Q4
Euro Area GDP fell by 0.3% in both the euro area (EA17) and the EU271 during the fourth quarter of 2011, compared with the previous quarter, according to flash estimates published by Eurostat. In the third quarter of 2011, growth rates were +0.1% and +0.3% respectively.
2012-02-15
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Euro Area GDP Down by 0.1 Percent in Q3
GDP fell by 0.1 percent in the euro area(EA17) and increased by 0.1 percent in the EU27 during the third quarter of 2012, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union.
2012-12-06
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Euro Area Grows 0.2% in Q2
GDP increased by 0.2% in both the Euro Area (EA17) and the EU27 during the third quarter of 2011, compared with the previous quarter, according to flash estimates published by Eurostat. In the second quarter of 2011, growth rates were +0.2% in both zones.
2011-11-15
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Euro Area GDP Down by 0.1 Percent in Q3
GDP fell by 0.1 percent in the euro area(EA17) and increased by 0.1 percent in the EU27 during the third quarter of 2012, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union.
2012-11-15
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Euro Area GDP Growth up by 0.2% in Q2
GDP increased by 0.2% in both the euro area (EA17) and the EU27 during the second quarter of 2011, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union. In the first quarter of 2011, growth rates were +0.8% in both zones.
2011-08-16
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Euro Area GDP down by 0.2% in Q2
GDP fell by 0.2% in both the euro area (EA17) and the EU27 during the second quarter of 2012, compared with the previous quarter, according to flash estimates published by Eurostat, the statistical office of the European Union.
2012-08-14
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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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