The chart above shows the annualized nominal gross domestic product (GDP) quarterly growth rate in each EU state as of the third quarter of 2019 and the growth rate from one year prior. Greece, Bulgaria, and the United Kingdom were the only states to see a contraction over the previous quarter.
- The difference between the state with the largest annualized quarterly growth rate, Romania, and the state with the smallest, the United Kingdom, is 20.24 percentage points.
- The difference between the state with the largest year-over-year growth rate, Hungary, and the states with the smallest, Greece and Italy, is 6.98 percentage points.
- The median annualized quarterly growth rate in the 28 EU states is 3.54% and the mean 2.98%.
- The median year-over-year growth rate in the 28 EU states is 4.36% and the mean 4.44%.
- Nine states' economies grew faster over the previous quarter than they did over the same quarter last year. The remaining 19 states saw their economies grow slower over the previous quarter than they did over the same quarter last year.
- Data is from the third quarter of 2019, the second quarter of 2019, and the third quarter of 2018.
- The data is seasonally adjusted in current euros.
- The data is annualized by multiplying the quarterly figure by four.
- All figures are rounded to the nearest hundredth.
The United Kingdom had the largest decrease over the previous quarter with an annualized drop of 9.24%. Romania had the largest growth with an annualized gain of 11.00%.
Year over year, Greece and Italy had the smallest growth with a 1.23% gain in GDP while Hungary had the largest growth with a 8.21% rise in GDP.
Bulgaria saw the largest decrease in its growth rate between its year-over-year growth and its annualized quarterly growth slowing its rate by 11.32 percentage points. Romania had the largest increase in its growth rate between its year-over-year growth and its annualized quarterly growth ramping up its rate by 3.69 percentage points.
Denmark went from having the 23rd largest growth rate over the same quarter last year to the 7th largest growth rate over the previous quarter. Conversely, Bulgaria went from having the 8th highest growth rate over the same quarter last year to the 27th highest growth rate over the previous quarter. Only two states had growth rates in the top five both over the same quarter last year and over the previous quarter: Romania (3rd highest year-over-year, highest quarterly) and Ireland (4th highest growth year-over year, 2nd highest growth over the previous quarter). Five states had growth rates in the bottom five both over the same quarter last year and over the previous quarter: Italy (27th highest year-over-year, 23rd highest quarterly), Germany (24th highest year-over-year, 24th highest quarterly), Sweden (26th highest year-over-year, 25th highest quarterly), Greece (27th highest year-over-year, 26th highest quarterly), and the United Kingdom (25th highest year-over-year, 28th highest quarterly).
Eurostat. 2020. "GDP and Main Components." Accessed January 29, 2020. https://appsso.eurostat.ec.europa.eu/nui/show.do?query=BOOKMARK_DS-406779_QID_-583B1285_UID_-3F171EB0&layout=TIME,C,X,0;GEO,L,Y,0;UNIT,L,Z,0;S_ADJ,L,Z,1;NA_ITEM,L,Z,2;INDICATORS,C,Z,3;&zSelection=DS-406779UNIT,CP_MEUR;DS-406779INDICATORS,OBS_FLAG;DS-406779S_ADJ,SCA;DS-406779NA_ITEM,B1GQ;&rankName1=UNIT_1_2_-1_2&rankName2=INDICATORS_1_2_-1_2&rankName3=NA-ITEM_1_2_-1_2&rankName4=S-ADJ_1_2_-1_2&rankName5=TIME_1_0_0_0&rankName6=GEO_1_2_0_1&sortC=ASC_-1_FIRST&rStp=&cStp=&rDCh=&cDCh=&rDM=true&cDM=true&footnes=false&empty=false&wai=false&time_mode=NONE&time_most_recent=false&lang=EN&cfo=%23%23%23%2C%23%23%23.%23%23%23.