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Euro Area GDP Growth Rate

Last Release
Mar 31, 2024
Actual
0.3
Units In
%
Previous
0
Frequency
Quarterly
Next Release
Aug 14, 2024
Time to Release
2 Months 28 Days 20 Hours
Highest
Lowest
Average
Date Range
Source
12.6
Sep 2020
-11.7
Jun 2020
0.36 %1995-2024Eurostat
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.

Latest Updates

The Eurozone economy expanded 0.3% on quarter in the first three months of 2024, recovering from a 0.1% contraction in each of the previous two quarters, and in line with the first estimate. It also marks the strongest GDP growth since the third quarter of 2022, with German GDP rebounding (0.2% vs -0.5%) and France (0.2% vs 0.1%) and Italy (0.3% vs 0.1%) expanding at a faster pace. Also, the Spanish economy grew at a robust 0.7% (vs 0.7% in the previous quarter). After a year of stagnation in 2023, the Eurozone is now on the path to recovery, particularly in Germany. Inflation is nearing the 2% target, and the European Commission now forecasts 0.8% growth for 2024, little changed from previous predictions, driven by a steady rise in consumer spending and improved trade, although investment growth appears to be softening.

Euro Area GDP Growth Rate History

Last 12 readings

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