The Eurozone economy grew by 12.6 percent in the three months to September 2020, recovering from a record slump of 11.8 percent in the previous period and compared with early estimates of a 12.7 percent advance. It was the steepest pace of expansion since 1995, boosted by a rebound in activity and demand as lockdowns imposed to contain the spread of the coronavirus pandemic were gradually lifted. All major economies in the region posted record GDP expansion rates: France (18.2 percent vs -13.7 percent in Q2); Spain (16.7 percent vs -17.8 percent); Italy (16.1 percent vs -13.0 percent); and Germany (8.2 percent vs -9.8 percent). Year-on-year, the GDP shrank by 4.4 percent, easing from a record contraction of 14.8 percent in the second quarter. source: Eurostat
GDP Growth Rate in the Euro Area averaged 0.34 percent from 1995 until 2020, reaching an all time high of 12.60 percent in the third quarter of 2020 and a record low of -11.80 percent in the second quarter of 2020. This page provides - Euro Area GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
GDP Growth Rate in Euro Area is expected to be -2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Euro Area to stand at 1.50 in 12 months time. In the long-term, the Euro Area GDP Growth Rate is projected to trend around 1.00 percent in 2021 and 0.60 percent in 2022, according to our econometric models.