The Eurozone economy grew 0.2 percent on quarter in the three months to September 2018, unrevised from a preliminary estimate and following a 0.4 percent expansion in the previous period. It was the weakest growth rate since the second quarter of 2014 as the German economy contracted for the first time in three-and-a-half years and Italy's GDP showed no growth. GDP Growth Rate in the Euro Area averaged 0.39 percent from 1995 until 2018, 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.

Euro Area GDP Growth Rate
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Eurozone Q3 GDP Growth Confirmed at 4-Year Low


The Eurozone economy grew 0.2 percent on quarter in the three months to September 2018, unrevised from a preliminary estimate and following a 0.4 percent expansion in the previous period. It was the weakest growth rate since the second quarter of 2014 as the German economy contracted for the first time in three-and-a-half years and Italy's GDP showed no growth.

Among Eurozone's largest economies, the German economy shrank 0.2 percent in the third quarter, following a 0.5 percent growth in the previous period. It was the first quarterly contraction since the three months to March 2015 due to a drop in both exports and household consumption. Also, the Italian economy stalled following a 0.2 percent expansion in the previous period and marking the weakest performance since the last quarter of 2014. On the other hand, France's GDP growth rate was the strongest in almost a year (0.4 percent vs 0.2 percent in Q2) and the Spanish economy continued to expand at a solid pace (0.6 percent, the same as in Q2).

Elsewhere, a contraction was recorded in Lithuania (-0.4 percent vs 0.9 percent) while GDP growth was unchanged in Finland (at 0.3 percent) and slowed in the Netherlands (0.2 percent vs 0.7 percent); Portugal (0.3 percent vs 0.6 percent); Slovakia (1.1 percent vs 1.2 percent); and Cyprus (0.7 percent vs 0.8 percent). On the other hand, economic growth picked up in Austria (0.4 percent vs 0.3 percent); Belgium (0.4 percent vs 0.3 percent); and Latvia (1.8 percent vs 1.2 percent).

Compared with the same quarter of the previous year, the Euro Area economy expanded 1.7 percent in the three months to September, following a 2.2 percent growth in the previous period.

Considering the European Union as a whole, GDP growth eased to 0.3 percent quarter-on-quarter (vs 0.5 percent in Q2); and to 1.9 percent year-on-year (vs 2.1 percent in Q2).


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
11/14/2018 10:27:50 AM



Calendar GMT Actual Previous Consensus TEForecast
2018-09-07 09:00 AM GDP Growth Rate QoQ 3rd Est 0.4% 0.4% 0.4% 0.4%
2018-10-30 10:00 AM GDP Growth Rate QoQ Flash 0.2% 0.4% 0.4% 0.5%
2018-11-14 10:00 AM GDP Growth Rate QoQ 2nd Est 0.2% 0.4% 0.2% 0.2%
2018-12-07 10:00 AM GDP Growth Rate QoQ 3rd Est 0.4% 0.2% 0.2%


Euro Area GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.20 0.40 1.30 -3.00 percent [+]
GDP Annual Growth Rate 1.70 2.20 5.00 -5.50 percent [+]
GDP 12589.50 11934.74 14113.09 245.48 USD Billion [+]
GDP Constant Prices 2646.90 2639.32 2646.90 1768.52 EUR Billion [+]
Gross Fixed Capital Formation 552.38 545.71 575.54 381.12 EUR Billion [+]
GDP per capita 40088.65 39259.42 40088.65 10808.76 USD [+]
GDP per capita PPP 39175.25 38359.70 39175.25 28115.88 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 November of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
0.20 0.40 1.30 -3.00 1995 - 2018 percent Quarterly
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Country Last
Singapore 4.70 Sep/18
United States 3.50 Sep/18
Indonesia 3.09 Sep/18
India 1.90 Jun/18
China 1.60 Sep/18
Australia 0.90 Jun/18
Mexico 0.90 Sep/18
Russia 0.90 Jun/18
Turkey 0.90 Jun/18
Canada 0.70 Jun/18
Switzerland 0.70 Jun/18
South Korea 0.60 Sep/18
Spain 0.60 Sep/18
United Kingdom 0.60 Sep/18
France 0.40 Sep/18
Brazil 0.20 Jun/18
Euro Area 0.20 Sep/18
Netherlands 0.20 Sep/18
Italy 0.00 Sep/18
Saudi Arabia -0.05 Mar/18
Germany -0.20 Sep/18
Japan -0.30 Sep/18
South Africa -0.70 Jun/18
Argentina -4.00 Jun/18


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