Eurozone's GDP growth q/q: actual, carry-over and forecastsAn upside surprise for growth? Our nowcast for Q3 points to growth of 0.2% q/q. This figure is better than our forecast of stagnant activity. The expected slowdown in Q3 would mainly reflect the normalisation of activity in Ireland and a slight slowdown in France and Spain. Activity in the Eurozone should then pick up in Q4 (+0.3% q/q) and a fortiori in 2026 (+0.4% q/q in Q1 and +0.5% q/q in subsequent quarters), supported by increased investment efforts in Europe, particularly in Germany. On average for the year, growth is expected to increase from 1.3% in 2025 to 1.4% in 2026. In July, growth in outstanding loans to businesses and households increased, thanks in particular to lower interest rates on new business loans, despite a rise in household borrowing rates.
Completed on October 2, 2025.
