The Eurozone economy shrank by a record 15.0 percent year-on-year in the second quarter of 2020, entering a steep recession and compared to market expectations of a 14.5 percent fall, a preliminary estimate showed, due to coronavirus-induced lockdowns.
GDP Annual Growth Rate in the Euro Area averaged 1.47 percent from 1995 until 2020, reaching an all time high of 5 percent in the first quarter of 1995 and a record low of -15 percent in the second quarter of 2020. This page provides - Euro Area GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area GDP Annual Growth Rate - values, historical data and charts - was last updated on August of 2020. source: Eurostat
GDP Annual Growth Rate in Euro Area is expected to be -8.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Euro Area to stand at 12.60 in 12 months time. In the long-term, the Euro Area GDP Annual Growth Rate is projected to trend around 4.00 percent in 2021 and 2.30 percent in 2022, according to our econometric models.