The Eurozone economy shrank by 4.9 percent year-on-year in the fourth quarter of 2020, following a revised 4.2 percent fall in the previous three-month period and an unprecedent 14.6 percent contraction in the second quarter due to the COVID-19 crisis. For the year 2020 as a whole, GDP fell by 6.6 percent, following a 1.3 percent expansion in 2019. source: EUROSTAT
GDP Annual Growth Rate in the Euro Area averaged 1.36 percent from 1995 until 2020, reaching an all time high of 5 percent in the first quarter of 1995 and a record low of -14.60 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 April of 2021.
GDP Annual Growth Rate in Euro Area is expected to be -5.20 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 4.00 in 12 months time. In the long-term, the Euro Area GDP Annual Growth Rate is projected to trend around 2.70 percent in 2022 and 2.00 percent in 2023, according to our econometric models.