Euro Growth Indicator

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Recovery in the euro area is picking up speed

Growth in the euro area will accelerate to 0.6 per cent in the second quarter of 2015 from 0.4 percent in the first quarter, according to the June EUROGROWTH indicator. The first estimation for the third quarter forecasts a further slight increase in the growth rate to 0.7 percent. On a year-on-year basis, the expansion is expected to strengthen to 1.6 per cent in the current quarter and 2.1 percent in the third quarter, the highest rate of growth since early 2011.

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May EUROGROWTH indicator confirms strengthening of recovery in the euro area.

According to the EUROGROWTH indicator May estimates, euro area GDP growth will accelerate from 0.3 percent in the fourth quarter of 2014 to 0.4 and 0.6 percent in the first and second quarters of 2015, respectively, confirming the expectation of an acceleration of economic activity in the first half of 2015. On a year-on-year basis, growth should accelerate from less than 1 per cent in the last four quarters to 1.5 per cent in the current quarter.

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A chance for a recovery in the euro area

According to the EUROGROWTH indicator April estimates, euro area GDP growth will accelerate from 0.3 percent in the fourth quarter of 2014 to 0.4 and 0.5 percent, respectively, in the first and second quarters of 2015. On a year-on-year basis, growth should accelerate up to mid-2015 from less than 1 per cent in the last four quarters to 1.5 per cent:  the euro area economy seems to start recovering at last.

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Euro area growth is slowly gaining traction

Growth in the euro area will remain at 0.3 per cent in the first quarter of 2015. The first estimation for the second quarter predicts a small improvement to 0.4 per cent, confirming the modest upward momentum. On a year-on-year basis, the expansion is set to strengthen from 0.9 per cent in the past couple of quarters to 1.3 per cent in the coming quarter. Although modest by historical standards, this would be the highest rate of growth in four and a half years.

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