The Euro Area economy shrank 11.8 percent on quarter in the three months to June of 2020, slightly less than initial estimates of a 12.1 percent fall. Still, it is the biggest contraction on record, pushing the economy to a recession as the coronavirus restrictions hurt most sectors. Declines were broad-based: household consumption went down 12.4 percent, investment plunged 17 percent, government spending decreased 2.6 percent. Also, exports sank 18.8 percent and imports dropped 18 percent. Among the bloc's largest economies, Spain posted the biggest decrease in economic activity (-18.5 percent), followed by France (-13.8 percent), Italy (-12.8 percent) and Germany (-9.7 percent).

GDP Growth Rate in the Euro Area averaged 0.22 percent from 1995 until 2020, reaching an all time high of 1.30 percent in the second quarter of 1997 and a record low of -11.80 percent in the second quarter of 2020. This page provides - Euro Area GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Euro Area GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Eurostat