The European Commission revised upwards its GDP forecasts for 2021 and 2022, saying the growth will be driven by private consumption and investment, as vaccination rates increase and restrictions are eased; as well as rising demand for EU exports from a strengthening global economy. The Eurozone is seen expanding by 4.3 percent this year and 4.4 percent in 2022, compared with February estimates of 3.8 percent growth in both years. The Commission also said that all Member States should see their economies return to pre-crisis levels by the end of 2022, an argument for the suspension of EU borrowing limits for governments in 2020 and 2021. Inflation, which has been below the ECB target for years, should accelerate to 1.7 percent in 2021 and slow down to 1.3 percent in 2022. source: EUROSTAT
GDP Annual Growth Rate in the Euro Area averaged 1.33 percent from 1995 until 2021, reaching an all time high of 5 percent in the first quarter of 1995 and a record low of -14.60 percent in the second quarter of 2020. This page provides - Euro Area GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area GDP Annual Growth Rate - values, historical data and charts - was last updated on May of 2021.
GDP Annual Growth Rate in Euro Area is expected to be 12.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Euro Area to stand at 4.60 in 12 months time. In the long-term, the Euro Area GDP Annual Growth Rate is projected to trend around 2.70 percent in 2022 and 2.00 percent in 2023, according to our econometric models.