The Euro Area economy shrank 0.3 percent on quarter in the first three months of 2021, compared with a preliminary estimate of 0.6 percent contraction. Still, the bloc entered a double-dip recession as activity and demand were hit by fresh distancing and lockdown measures imposed during that period, to curb the spread of the coronavirus pandemic. A sharp decline in household consumption was partially offset by an increase in fixed investment and positive contributions from net trade and inventories. Among the bloc's largest economies, Germany, France, Spain and the Netherlands fell back into contraction territory, while Italy's economy posted modest growth despite the restrictions. Year-on-year, the GDP dropped 1.3 percent in the first quarter, much less than a second estimate of 1.8 percent fall. source: EUROSTAT
GDP Growth Rate in the Euro Area averaged 0.33 percent from 1995 until 2021, reaching an all time high of 12.60 percent in the third quarter of 2020 and a record low of -11.50 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 July of 2021.
GDP Growth Rate in Euro Area is expected to be 1.50 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 0.80 in 12 months time. In the long-term, the Euro Area GDP Growth Rate is projected to trend around 0.50 percent in 2022 and 0.40 percent in 2023, according to our econometric models.