The Eurozone economy shrank by 12.1 percent in the three months to June 2020, entering a steep recession, a preliminary estimate showed. That was the biggest contraction on record, as lockdowns imposed to contain the spread of the coronavirus pandemic hit activity and global demand. All major economies in the region posted record declines in GDP: Spain (-18.5percent), Italy (-12.4 percent), France (-13.8 percent) and Germany (-10.1 percent).

GDP Growth Rate in the Euro Area averaged 0.22 percent from 1995 until 2020, reaching an all time high of 1.30 percent in the second quarter of 1997 and a record low of -12.10 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 August of 2020. source: Eurostat

GDP Growth Rate in Euro Area is expected to be 7.50 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 1.40 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
-12.10 -3.60 1.30 -12.10 1995 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-04-30 09:00 AM QoQ Flash Q1 -3.8% 0.1% -3.5% -3%
2020-05-15 09:00 AM QoQ 2nd Est Q1 -3.8% 0.1% -3.8% -3.8%
2020-06-09 09:00 AM QoQ 3rd Est Q1 -3.6% 0.1% -3.8% -3.8%
2020-07-31 09:00 AM QoQ Flash Q2 -12.1% -3.6% -12% -12.5%
2020-08-14 09:00 AM QoQ 2nd Est Q2 -3.6% -12.1% -12.1%
2020-09-08 09:00 AM QoQ 3rd Est Q2 -3.6% -12.1%
2020-10-30 10:00 AM QoQ Flash Q3 7.5%
2020-11-13 10:00 AM QoQ 2nd Est Q3 7.5%
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Eurozone Economy Suffers Record Q2 Decline
The Eurozone economy shrank by 12.1 percent in the three months to June 2020, entering a steep recession, a preliminary estimate showed. That was the biggest contraction on record, as lockdowns imposed to contain the spread of the coronavirus pandemic hit activity and global demand. All major economies in the region posted record declines in GDP: Spain (-18.5percent), Italy (-12.4 percent), France (-13.8 percent) and Germany (-10.1 percent).
2020-07-31
Eurozone GDP Contraction Revised, Largest on Record
The Eurozone economy shrank by 3.6 percent on quarter in the first three months of 2020, compared with preliminary estimates of a 3.8 percent contraction and the previous period's 0.1 percent growth. It was still the steepest contraction on record as a coronavirus lockdown from mid-March forced non-essential businesses to close and consumers to stay at home. Among the bloc's largest economies, Germany's GDP contraction was the sharpest since 2009, while France, Spain and Italy economies shrank the most on record. Germany, France and Italy all entered a recession.
2020-06-09
Eurozone GDP Contracts the Most on Record
The Eurozone quarterly economic contraction was confirmed at 3.8 percent in the first quarter of 2020, the steepest since comparable records began in 1995 as COVID-19 containment measures began to be widely introduced by Member States in mid-March. Germany, France, Spain and Italy economies shrank the most on record, with Germany and France entering a recession.
2020-05-15
Eurozone GDP Contracts at Record Pace
The Eurozone economy shrank by 3.8% on quarter in Q1, compared to market expectations of a 3.5% contraction, a flash estimate showed. It was the steepest contraction since comparable records began in 1995 as a coronavirus lockdown from mid-March forced businesses to close and consumers to stay at home. France, Spain and Italy economies contracted the most on record, with France entering a recession.
2020-04-30

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.