Eurozone GDP Q3 2017

Eurozone

Eurozone: Economy continues to roar ahead in Q3

November 14, 2017

The Eurozone economy continued to perform robustly in the third quarter of 2017, according to a second preliminary estimate released by Eurostat. GDP increased a seasonally-adjusted 0.6% in Q3 from the previous quarter, which was a notch below Q2’s 0.7% rise. The reading matched the preliminary estimate released on 31 October. The Eurozone economy is on track to grow at the fastest pace since 2007 this year due to several tailwinds, including accommodative monetary policy, improving labor market dynamics and a favorable external backdrop. Compared to the same quarter of 2016, seasonally-adjusted GDP expanded 2.5% in Q3, which was above Q2’s 2.3% year-on-year increase.

Additional data released by statistical institutes across the continent revealed a bright picture among the region’s major players. Growth gained speed in Germany and Italy, and remained buoyant in Spain. The German economy is benefiting from a solid external sector and dynamic investment, while Italy’s economy was also boosted by net exports. France’s economy, however, lost steam. More complete GDP data including a breakdown by components will be released on 7 December.

FocusEconomics Consensus Forecast panelists expect the Euro area economy to expand 1.9% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, panelists expect the economy to expand 1.6%.


Author: Angela Bouzanis, Senior Economist

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Eurozone GDP Chart


Euro GDP Q3 2017 0

Note: Quarter-on-quarter changes of seasonally-adjusted GDP and year-on-year variation in %.
Source: Eurostat


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