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. source: EUROSTAT
The Gross Domestic Product (GDP) In the Euro Area expanded 0.30 percent in the first quarter of 2024 over the previous quarter. GDP Growth Rate in Euro Area averaged 0.37 percent from 1995 until 2024, reaching an all time high of 12.10 percent in the third quarter of 2020 and a record low of -11.30 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 May of 2024.
The Gross Domestic Product (GDP) In the Euro Area expanded 0.30 percent in the first 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 0.40 percent in 2025 and 0.30 percent in 2026, according to our econometric models.