Category: GDP

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U.S. Q1 2020 GDP contracts 5% (QoQ) but grows 2.1% (YoY) as COVID-19 hits economic activity

U.S. gross domestic product (GDP) contracted 5% in Quarter 1 (Q1) 2020 (vs Q4 2019) but grew 2.1% (vs Q1 2019) on back of economic activity being hit due to the spread of COVID-19. On a long-term average, the numbers aren’t really that bad but Q2 2020 will be far worse …

US Q1 2020 GDP Year on Year change 10 year bar chart

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European Union Q1 2020 GDP contracts by 3.3% (QoQ) and contracts 2.6% (YoY); Euro Area or Eurozone Q1 2020 GDP contracts by 3.8% (QoQ) and contracts 3.2% (YoY); France, Spain and Italy see largest falls

GDP contracted for the European Union (EU27) by 3.3% in the first quarter (Q1) 2020 (compared to Q4 2019) and by 2.6% (compared to Q1 2019).

GDP contracted for the Euro Area or Eurozone (EA19) by 3.8% in the first quarter (Q1) 2020 (compared to Q4 2019) and by 3.2% (compared to Q1 2019).

Eurozone European Union EU Q1 2020 GDP growth
Source: Eurostat

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UK Q1 2020 GDP contracts by 2% (QoQ) and contracts 1.6% (YoY); Services, Production and Construction all contract; Household consumption falls the most since 2008

UK Q1 2020 gross domestic product (GDP) was estimated to have fallen by 2% in the quarter compared to Q4 2019, the largest fall since Q4 2008.

When compared with the same quarter (Q1 2019) a year ago, UK GDP decreased by 1.6% in Q1 2020 which was the biggest fall since Q4 2009.

UK 2020 Q1 GDP

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European Union (EU) Q4 2019 GDP growth at 0.2% (QoQ), 1.2% (YoY), 2019 growth at 1.5% (YoY); Euro area (Eurozone) Q4 2019 GDP growth at 0.1% (QoQ), 1% (YoY), 2019 growth at 1.2% (YoY)

Q4 2019 GDP growth

GDP growth for the European Union (EU27) was 0.2% in the fourth quarter (Q4) 2019 (compared to Q3 2019) and 1.2% (compared to Q4 2018).

GDP growth for the Euro Area or Eurozone (EA19) was 0.1% in the fourth quarter (Q4) 2019 (compared to Q3 2019) and 1% (compared to Q4 2018).

Eurozone European Union EU Q4 2019 GDP growth

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U.S. Q3 2019 GDP growth estimated at 2.1% as personal consumption soars; Total Public Debt as Percent of GDP at highest ever level

U.S. real gross domestic product (GDP) increased at an annual rate of 2.1% in Q3 2019, according to the third estimate released by the Bureau of Economic Analysis. Revised GDP growth for Q2 2019 was 2%.

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Eurozone and European Union Q3 2019 GDP grows by 0.3% (QoQ); Germany, Italy and Austria economic growth at just 0.1%

Q3 2019 GDP was up by 0.3 % in both the Eurozone (EA19) and in the European Union (EU28), compared to Q2 2019. In Q2 2019, GDP grew by 0.2 % in the Eurozone (EA19) and in the European Union (EU28). Compared with the Q3 2018 (same quarter of the previous year), seasonally adjusted GDP rose by 1.2 % in the Eurozone (EA19) and by 1.4 % in the European Union (EU28) in Q3 2019.

 

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