The Eurozone economy grew by 0.3 percent in the second quarter of 2023 after a flat first quarter, in line with preliminary estimate. The recovery in demand was likely bolstered by a moderation in inflationary pressures. However, higher interest rates and waning confidence continued to weigh on the single currency's economy. Among the largest economies in the bloc, France (0.5%) and Spain (0.4%) demonstrated sustained growth rates, whereas Germany's economy stagnated, and Italy unexpectedly experienced a 0.3% contraction. On a yearly basis, the Eurozone grew by 0.6 percent, the weakest pace of expansion since the 2020-21 period of recession. source: EUROSTAT

GDP Growth Rate in Euro Area averaged 0.37 percent from 1995 until 2023, reaching an all time high of 12.20 percent in the third quarter of 2020 and a record low of -11.40 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 2023.

GDP Growth Rate in Euro Area is expected to be 0.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Euro Area GDP Growth Rate is projected to trend around 0.30 percent in 2024 and 0.40 percent in 2025, according to our econometric models.

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Euro Area GDP Growth Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-07-31 09:00 AM QoQ Flash Q2 0.3% 0% 0.2% 0.3%
2023-08-16 09:00 AM QoQ 2nd Est Q2 0.3% 0% 0.3% 0.3%
2023-09-07 09:00 AM QoQ 3rd Est Q2 0% 0.3% 0.3%


Related Last Previous Unit Reference
GDP Growth Rate 0.30 0.00 percent Jun 2023
GDP Annual Growth Rate 0.60 1.10 percent Jun 2023
GDP Constant Prices 2939.54 2931.95 EUR Billion Jun 2023
Gross Fixed Capital Formation 627.31 623.47 EUR Billion Mar 2023
Full Year GDP Growth 3.50 5.30 percent Dec 2022
GDP Growth Annualized 0.30 -0.20 percent Mar 2023

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.
Actual Previous Highest Lowest Dates Unit Frequency
0.30 0.00 12.20 -11.40 1995 - 2023 percent Quarterly
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News Stream
Eurozone GDP Growth Confirmed at 0.3% in Q2
The Eurozone economy grew by 0.3 percent in the second quarter of 2023 after a flat first quarter, in line with preliminary estimate. The recovery in demand was likely bolstered by a moderation in inflationary pressures. However, higher interest rates and waning confidence continued to weigh on the single currency's economy. Among the largest economies in the bloc, France (0.5%) and Spain (0.4%) demonstrated sustained growth rates, whereas Germany's economy stagnated, and Italy unexpectedly experienced a 0.3% contraction. On a yearly basis, the Eurozone grew by 0.6 percent, the weakest pace of expansion since the 2020-21 period of recession.
2023-08-16
Eurozone GDP Growth Accelerates to 0.3% in Q2
The Eurozone economy grew by 0.3 percent in the second quarter of 2023 after a flat first quarter, slightly surpassing market consensus of a 0.2 percent expansion, a preliminary estimate showed. The recovery in demand was likely bolstered by a moderation in inflationary pressures. However, higher interest rates and waning confidence continued to weigh on the single currency's economy. Among the largest economies in the bloc, France and Spain demonstrated sustained growth rates, whereas Germany's economy stagnated, and Italy unexpectedly experienced a contraction. On a yearly basis, the Eurozone grew by 0.6 percent, the weakest pace of expansion since the 2020-21 period of recession.
2023-07-31
Euro Area Economy Avoids Recession
The Eurozone economy stalled in Q1 2023, instead of a 0.1% contraction which means the bloc avoided a technical recession, revised data showed. The upward revision was mainly due to the contribution of external demand as exports increased by 0.2%, compared with initial estimates of a 0.1% fall and after a 0.3% decline in Q4. Meanwhile, imports were 1.2% lower (vs -1.5% in Q4), the same as previously reported. Meanwhile, gross fixed capital formation rebounded in line with initial estimates (+0.6% vs -0.6%). On the other hand, household expenditure decreased by 0.3% (vs -1% in Q4 2022), and public spending declined by 1.6% (vs +0.6%), also unchanged from earlier reports.
2023-07-20