The Eurozone GDP expanded 0.4% on quarter in Q3 2024, the strongest growth rate in two years, following a 0.2% rise in Q2 and in line with the first estimate. The German economy expanded 0.2%, surprisingly avoiding a recession, after a downwardly revised 0.3% decline in Q2. GDP growth also quickened in France (0.4% vs 0.2% in Q2), Estonia (0.1% vs 0%), Cyprus (1% vs 0.1%), Slovenia (0.3% vs 0.1%), Finland (0.4% vs 0.2%) and Lithuania (1.1% vs 0.3%). In addition, the GDP in Ireland (2% vs -1%) and Austria (0.3% vs 0%) rebounded and the Spanish economy remained robust (0.8% vs 0.8%). The Portuguese economy grew 0.2%, the same as in Q2 and growth in Slovakia stabilized (0.3% vs 0.3%). On the other hand, the Italian economy stalled, following a 0.2% rise in Q2 and Latvia remained in contraction (-0.4% vs -0.3%). GDP growth slowed in Belgium (0.2% vs 0.3%) and the Netherlands (0.8% vs 1.1%). Year-on-year, the Eurozone GDP expanded 0.9%, the best performance since Q1 2023. source: EUROSTAT

The Gross Domestic Product (GDP) In the Euro Area expanded 0.40 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Euro Area averaged 0.38 percent from 1995 until 2024, reaching an all time high of 11.70 percent in the third quarter of 2020 and a record low of -11.10 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 November of 2024.

The Gross Domestic Product (GDP) In the Euro Area expanded 0.40 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Euro Area is expected to be 0.30 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 2025 and 0.40 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-10-30 10:00 AM QoQ Flash Q3 0.4% 0.2% 0.2% 0.3%
2024-11-14 10:00 AM QoQ 2nd Est Q3 0.4% 0.2% 0.4% 0.4%
2024-12-06 10:00 AM QoQ 3rd Est Q3 0.2% 0.4% 0.4%


Related Last Previous Unit Reference
Full Year GDP Growth 0.40 3.40 percent Dec 2023
GDP Growth Rate YoY 0.90 0.60 percent Sep 2024
GDP Constant Prices 3020707.50 3009312.50 EUR Million Sep 2024
GDP Growth Annualized 0.80 1.30 percent Jun 2024
GDP Growth Rate 0.40 0.20 percent Sep 2024
Gross Fixed Capital Formation 610570.00 626232.10 EUR Billion Jun 2024

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
0.40 0.20 11.70 -11.10 1995 - 2024 percent Quarterly
SA


News Stream
Euro Area GDP Growth Rate Confirmed at 0.4% in Q3
The Eurozone GDP expanded 0.4% on quarter in Q3 2024, the strongest growth rate in two years, following a 0.2% rise in Q2 and in line with the first estimate. The German economy expanded 0.2%, surprisingly avoiding a recession, after a downwardly revised 0.3% decline in Q2. GDP growth also quickened in France (0.4% vs 0.2% in Q2), Estonia (0.1% vs 0%), Cyprus (1% vs 0.1%), Slovenia (0.3% vs 0.1%), Finland (0.4% vs 0.2%) and Lithuania (1.1% vs 0.3%). In addition, the GDP in Ireland (2% vs -1%) and Austria (0.3% vs 0%) rebounded and the Spanish economy remained robust (0.8% vs 0.8%). The Portuguese economy grew 0.2%, the same as in Q2 and growth in Slovakia stabilized (0.3% vs 0.3%). On the other hand, the Italian economy stalled, following a 0.2% rise in Q2 and Latvia remained in contraction (-0.4% vs -0.3%). GDP growth slowed in Belgium (0.2% vs 0.3%) and the Netherlands (0.8% vs 1.1%). Year-on-year, the Eurozone GDP expanded 0.9%, the best performance since Q1 2023.
2024-11-14
Euro Area GDP Growth Doubles in Q3
The Eurozone GDP expanded 0.4% on quarter in the three months to September 2024, the strongest growth rate in two years, following a 0.2% rise in Q2 and above forecasts of 0.2%, preliminary estimates showed. The German economy expanded 0.2%, surprisingly avoiding a recession, after a downwardly revised 0.3% decline in Q2. GDP growth also quickened in France (0.4% vs 0.2% in Q2) and the Spanish economy remained robust (0.8% vs 0.8%). In addition, the Portuguese economy grew 0.2%, the same as in Q2 while the GDP in Ireland (2% vs -1%) and Austria (0.3% vs 0%) rebounded and grew faster in Lithuania (1.1% vs 0.3%). On the other hand, the Italian economy stalled, following a 0.2% rise in Q2 and Latvia remained in contraction (-0.4% vs -0.3%). Year-on-year, the Eurozone GDP expanded 0.9%, the best performance since the Q1 2023, compared to a 0.6% rise in the previous quarter and higher than forecasts of 0.8%. The ECB expects the GDP in the Eurozone to expand 0.8% this year.
2024-10-30
Euro Area GDP Growth Revised Lower in Q2
The GDP in the Euro Area expanded 0.2% on quarter in the three months to June 2024, slightly lower than initial estimates of a 0.3% growth, and compared to a 0.3% rise in the first quarter. Government spending increased 0.6% while household consumption edged down 0.1% and investment shrank 2.2% as high prices and interest rates weigh. Meanwhile, exports rose 1.4% and imports increased at a slower 0.5%. Among the bloc's largest economies, an expansion was recorded in France (0.2%), Italy (0.2%) and Spain (0.8%) while the German GDP contracted 0.1%. Compared with the same quarter last year, the Eurozone economy expanded 0.6%, in line with the first estimates. The ECB expects the Euro Area will grow 0.9% in 2024, 1.4% in 2025 and 1.6% in 2026, according to the June 2024 projections.
2024-09-06