Euro Area GDP Growth Rate

Last Release

Dec 31, 2024

Actual

Units In

0.4

Frequency

Quarterly

Next Release

May 15, 2025

Time to Release

2 Months 25 Days 18 Hours

Highest	Lowest	Average	Date Range	Source
12.6 Sep 2020	-11.7 Jun 2020	0.36 %	1995-2024	Eurostat

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 grew by 0.1% in the final quarter of 2024, slightly better than the initially reported flat reading but still marking the weakest performance of the year, the second estimate from the Eurostat which includes data for more countries showed. The bloc's two largest economies contracted, with Germany's GDP shrinking by 0.2% and France's by 0.1%, while Italy stagnated for a second consecutive quarter. In contrast, Spain (0.8%) and Portugal (1.5%) posted solid growth, alongside positive performances in Netherlands (0.4%), Belgium (0.2%), Slovenia (0.6%), Slovakia (0.5%), and Estonia (0.1%). On the downside, Ireland's GDP fell by 1.3%, Austria's economy remained flat, and slower growth was recorded in Finland (0.1%), Cyprus (0.3%) and Lithuania (0.9%). Year-on-year, the Euro Area GDP grew 0.9%, the same as in Q3, in line with the first estimate. Considering full year, the economy expanded 0.7%, above 0.4% in 2023.