The Gross Domestic Product (GDP) In the Euro Area expanded 0.40 percent in the first quarter of 2019 over the previous quarter. GDP Growth Rate in the Euro Area averaged 0.38 percent from 1995 until 2019, 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.

GDP Growth Rate in Euro Area is expected to be 0.20 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 0.40 in 12 months time. In the long-term, the Euro Area GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.

Euro Area GDP Growth Rate
Forecast Data Chart
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Calendar GMT Actual Previous Consensus TEForecast
2019-03-07 10:00 AM GDP Growth Rate QoQ 3rd Est Q4 0.2% 0.1% 0.2% 0.2%
2019-04-30 09:00 AM GDP Growth Rate QoQ Flash Q1 0.4% 0.2% 0.3% 0.2%
2019-05-15 09:00 AM GDP Growth Rate QoQ 2nd Est Q1 0.4% 0.2% 0.4% 0.4%
2019-06-06 09:00 AM GDP Growth Rate QoQ 3rd Est Q1 0.4% 0.2% 0.4% 0.4%
2019-07-31 09:00 AM GDP Growth Rate QoQ Flash Q2 0.4% 0.2%
2019-08-14 09:00 AM GDP Growth Rate QoQ 2nd Est Q2 0.4% 0.2%
2019-09-06 09:00 AM GDP Growth Rate QoQ 3rd Est Q2 0.4% 0.2%

Eurozone Q1 GDP Growth Confirmed at 0.4%

The Eurozone quarterly economic growth was confirmed at 0.4 percent in the first quarter of 2019, above the previous three-month period's expansion of 0.2 percent.

From the expenditure side, the largest positive contribution to the GDP growth came from household final consumption expenditure (0.3 percentage points), followed by gross fixed capital formation (0.2 percentage points), net exports (0.1 percentage points); while inventories subtracted 0.3 percentage points to the GDP.

Household consumption rose 0.5 percent in the first quarter (vs 0.3 percent in Q4) and fixed investment advanced 1.1 percent (vs 1.4 percent in Q4). In addition, government spending edged up 0.1 percent, following a 0.6 percent growth in the previous period. Exports increased 0.6 percent (vs 1.2 percent in Q4) while imports rose at a slower 0.4 percent (vs 1.2 percent in Q4).

From the production side, services activity was the main driver of growth led by trade, transport, accommodation and food service activities (0.7 percent vs 0.4 percent); information and communication (0.4 percent vs 0.6 percent); real estate activities (0.3 percent, the same as in Q4); professional and support service activities (0.5 percent vs 0.6 percent); administration and other public services (0.4 percent vs 0.3 percent); and arts, entertainment and other services (0.4 percent vs 0.2 percent). Financial and insurance activities, however, shrank 0.4 percent, reversing a 0.2 percent gain in Q4. Also, construction advanced 1.1 percent, the same as in Q4; and industry output edged up 0.1 percent (vs -0.5 percent in Q4), despite manufacturing production being unchanged (vs -0.3 percent in Q4).

Among the bloc's largest economies, Germany's GDP increased 0.4 percent in Q1, after being unchanged in the previous period, on the back of strong fixed capital formation and household consumption; while Italian economy advanced 0.1 percent, emerging from its third recession in a decade, due mainly to net exports. Also, Spain's economy grew 0.7 percent, faster than 0.6 percent in the previous three-month period, mainly boosted by a rebound in fixed investment; while France's GDP growth was unchanged at 0.3 percent on the back of firm household consumption.

Compared with the same quarter of the previous year, the Euro Area economy expanded 1.2 percent in the three months to March, the same pace as in the previous period.

Considering the European Union as a whole, GDP growth picked up to 0.5 percent quarter-on-quarter (vs 0.3 percent in Q4); and was unchanged at 1.5 percent year-on-year.

Eurostat | Joana Ferreira |
6/6/2019 9:25:50 AM

Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.40 0.20 1.30 -3.00 percent [+]
GDP Annual Growth Rate 1.20 1.20 5.00 -5.50 percent [+]
GDP 13669.95 12634.71 14124.88 245.46 USD Billion [+]
GDP Constant Prices 2664.10 2653.68 2664.10 1768.62 EUR Billion [+]
Gross Fixed Capital Formation 571.94 565.70 575.53 381.18 EUR Billion [+]
GDP per capita 40978.90 40289.70 40978.90 10826.50 USD [+]
GDP per capita PPP 40027.90 39349.20 40027.90 28133.00 USD [+]

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. 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 July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.40 0.20 1.30 -3.00 1995 - 2019 percent Quarterly

Country Last Previous
United States 3.10 Mar/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
Russia -0.40 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
South Africa -3.20 Mar/19
Singapore -3.40 Jun/19