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.

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Euro Area GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
12.60 -11.80 12.60 -11.80 1995 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-08-14 09:00 AM QoQ 2nd Est Q2 -12.1% -3.6% -12.1% -12.1%
2020-09-08 09:00 AM QoQ 3rd Est Q2 -11.8% -3.7% -12.1% -12.1%
2020-10-30 10:00 AM QoQ Flash Q3 12.7% -11.8% 9.4% 7.5%
2020-11-13 10:00 AM QoQ 2nd Est Q3 12.6% -11.8% 12.7% 12.7%
2020-12-08 10:00 AM QoQ 3rd Est Q3 -11.8% 12.6% 12.6%
2021-02-01 10:00 AM QoQ Flash Q4
2021-02-15 10:00 AM QoQ 2nd Est Q4
2021-03-10 10:00 AM QoQ 3rd Est Q4


News Stream
Eurozone Q3 GDP Growth Revised Slightly Lower
The Eurozone economy grew by 12.6 percent in the three months to September 2020, recovering from a record 11.8 percent slump 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.
2020-11-13
Eurozone GDP Expands at Record 12.7% in Q3
The Eurozone economy grew by 12.7 percent in the three months to September 2020, recovering from a record slump of 11.8 percent seen during the second quarter and easily beating market expectations of 9.4 percent, a preliminary estimate showed. That was the steepest pace of expansion since comparable data started to being collected in 1995, boosted by a rebound in activity and global demand after European countries lifted lockdowns imposed to contain the spread of the coronavirus pandemic. All major economies in the region posted record GDP expansion: 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 4.3 percent, easing from a record contraction of 14.8 percent in the second quarter.
2020-10-30
Euro Area GDP Contracts at Record 11.8% in Q2
The Euro Area economy shrank 11.8 percent on quarter in the three months to June of 2020, slightly less than initial estimates of a 12.1 percent fall. Still, it is the biggest contraction on record, pushing the economy to a recession as the coronavirus restrictions hurt most sectors. Declines were broad-based: household consumption went down 12.4 percent, investment plunged 17 percent, government spending decreased 2.6 percent. Also, exports sank 18.8 percent and imports dropped 18 percent. Among the bloc's largest economies, Spain posted the biggest decrease in economic activity (-18.5 percent), followed by France (-13.8 percent), Italy (-12.8 percent) and Germany (-9.7 percent).
2020-09-08
Eurozone Record Economic Contraction Confirmed
The Eurozone economy shrank 12.1 percent in the three months to June 2020, the biggest contraction on record and entering a recession, a second estimate showed. Germany, France, Italy and Spain all posted record declines in GDP as lockdowns imposed to contain the spread of the coronavirus pandemic hit activity and global demand.
2020-08-14

Euro Area GDP Growth Rate
The Euro Area is an economic and monetary union of 19 European 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 third most populous with 341 million inhabitants. Germany, France, Italy and Spain are the most important economies accounting respectively for 29 percent, 20 percent, 15 percent and 10 percent of the bloc’s GDP.