GDP in Eurozone
Eurozone - GDP (billions of Euros)
Second estimate confirms stalled economy in Q4
A second flash estimate confirmed weak growth dynamics in the Eurozone economy at the end of 2018. According to preliminary figures released by Eurostat, GDP increased a seasonally-adjusted 0.2% in Q4 from the previous quarter, matching Q3’s result which had marked the slowest growth rate since Q2 2014. The reading also matched the first preliminary estimate. Compared with the same quarter of 2017, seasonally-adjusted GDP expanded 1.2% in Q4, down from Q3’s 1.6%. Accordingly, growth slowed to 1.8% in 2018, from 2017’s robust 2.4%.
While a breakdown by components is not yet available, soft domestic dynamics likely weighed on growth in the fourth quarter. The Eurozone’s industrial sector floundered, with industrial production recording the largest contraction since Q1 2013 in Q4. A feeble recovery in automobile production following the implementation of new emissions tests in Q3 hampered the result, while a slowdown in emerging markets, geopolitical concerns and other temporary shocks further hobbled the recovery. In addition, economic sentiment deteriorated notably in Q4, despite a tightening labor market.
Additional data released by national statistical institutes across the Eurozone painted a weak picture of growth. Germany’s economy narrowly avoided a technical recession in the fourth quarter, eking out zero growth Italy’s economy, however, did slip into technical recession in Q4, while growth held up in France despite the onset of the ‘gilets jaunes’ protests.
Met the why particular Consensus Forecast panelists expect the Euro-area economy to expand 1.5% in 2019, which is down 0.1 percentage points from last month’s forecast. For 2020, panelists see the economy again expanding 1.5%.
Eurozone - GDP (EUR bn) Data
|GDP (EUR bn)||9,937||11,159||11,520||11,789||11,172|
5 years of economic forecasts for more than 30 economic indicators.
|Exchange Rate||1.13||0.65 %||Feb 21|
|Stock Market||1,129||-0.52 %||Feb 21|
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February 21, 2019
Leading data suggests that the Euro area’s economy remained soft in February.
February 14, 2019
A second flash estimate confirmed weak growth dynamics in the Eurozone economy at the end of 2018.
February 13, 2019
Industrial output fell again in December, contracting a seasonally-adjusted 0.9% over the previous month.
February 1, 2019
According to a preliminary release by Eurostat on 1 February, harmonized inflation is expected be 1.4% in January, sitting below the European Central Bank’s target rate of near, but under, 2.0%.
February 1, 2019
According to data released by Eurostat, labor market conditions in the common currency bloc were broadly stable in December.