The Euro Area economy stagnated in the fourth quarter of 2023, following a 0.1% contraction in the previous three-month period, as persistently high inflation, record borrowing costs, and weak external demand continued to exert downward pressure on growth. Net exports subtracted 0.3 percentage points from the GDP, with exports remaining flat (vs -1.2% in Q3) and imports increasing by 0.6% (vs -1.4%), while changes in inventories subtracted 0.1 percentage point. On the other hand, household consumption rose by a meager 0.1%, following a 0.3% increase in the previous quarter. On a brighter note, fixed investment advanced by 1.0% (vs 0.0% in Q3), and public spending expanded by 0.6% (vs 0.6% in Q3). Compared with the same quarter of the previous year, the Eurozone economy advanced by 0.1%, matching the pace of the previous period. Looking at the full year of 2023, the GDP grew by 0.4%, marking a sharp decline from a 3.4% expansion in 2022. source: EUROSTAT

The Gross Domestic Product (GDP) In the Euro Area stagnated 0 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Euro Area averaged 0.37 percent from 1995 until 2023, 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 April of 2024.

The Gross Domestic Product (GDP) In the Euro Area stagnated 0 percent in the fourth quarter of 2023 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.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-14 10:00 AM QoQ 2nd Est Q4 0% -0.1% 0% 0.0%
2024-03-08 10:00 AM QoQ 3rd Est Q4 0% -0.1% 0% 0.0%
2024-04-30 09:00 AM QoQ Flash Q1 0% 0.2% 0.1%


Related Last Previous Unit Reference
Full Year GDP Growth 0.40 3.40 percent Dec 2023
GDP Growth Rate YoY 0.00 0.10 percent Dec 2023
GDP Constant Prices 2950.08 2951.47 EUR Billion Dec 2023
GDP Growth Annualized -0.20 -0.20 percent Dec 2023
GDP Growth Rate 0.00 -0.10 percent Dec 2023
Gross Fixed Capital Formation 635.68 629.41 EUR Billion Dec 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
0.00 -0.10 12.10 -11.30 1995 - 2023 percent Quarterly
SA

News Stream
Eurozone Economic Stagnation Confirmed in Q4
The Euro Area economy stagnated in the fourth quarter of 2023, following a 0.1% contraction in the previous three-month period, as persistently high inflation, record borrowing costs, and weak external demand continued to exert downward pressure on growth. Net exports subtracted 0.3 percentage points from the GDP, with exports remaining flat (vs -1.2% in Q3) and imports increasing by 0.6% (vs -1.4%), while changes in inventories subtracted 0.1 percentage point. On the other hand, household consumption rose by a meager 0.1%, following a 0.3% increase in the previous quarter. On a brighter note, fixed investment advanced by 1.0% (vs 0.0% in Q3), and public spending expanded by 0.6% (vs 0.6% in Q3). Compared with the same quarter of the previous year, the Eurozone economy advanced by 0.1%, matching the pace of the previous period. Looking at the full year of 2023, the GDP grew by 0.4%, marking a sharp decline from a 3.4% expansion in 2022.
2024-03-08
Eurozone Economy Stagnates in Q4
The Euro Area economy stagnated in the last quarter of 2023, following a 0.1% contraction in the previous three-month period, as persistently high inflation, record borrowing costs, and weak external demand continued to exert downward pressure on growth. Among the bloc's largest economies, Germany contracted by 0.3%, primarily due to weakness in the industrial sector, while France's GDP stalled. In contrast, economic growth in Spain and Italy accelerated to 0.6% and 0.2%, respectively. Additionally, the Dutch GDP expanded by 0.3%, marking the end of a three-quarter period of contraction. Compared with the same quarter of the previous year, the Eurozone economy advanced by a meager 0.1% after showing no growth in the third quarter. Looking at the full year of 2023, the GDP grew by 0.5%, marking a sharp decline from expansions of 3.4% and 5.9% in 2022 and 2021, respectively.
2024-02-14
Euro Area Economy Escapes Recession
The Euro Area economy unexpectedly stalled in the last three months of 2023, following a 0.1% contraction in the previous period, and compared to forecasts of a 0.1% fall, preliminary estimates showed. The common bloc avoided a recession in the end of 2023, amid a better-than-expected growth in Spain (0.6%) and Italy (0.2%) while the French economy stalled and Germany, which is the largest one, contracted 0.3%. Positive contributions to GDP also came from other smaller economies including Portugal (0.8%), Belgium (0.4%), Latvia (0.4%) and Austria (0.2%). On the other hand, a contraction was seen for Ireland (-0.7%) and Lithuania (-0.3%). Considering full 2023, the Eurozone GDP expanded 0.5%. However, the outlook for 2024 remains challenging amid high borrowing costs and prices, softer domestic and external demand and subdued manufacturing sector, specially in Germany.
2024-01-30