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- Eurozone GDP growth resumed in the second quarter
Eurozone GDP growth resumed in the second quarter
According to the report from Eurostat, in the second quarter 2021, seasonally adjusted GDP increased by 2.0% in the euro area and by 1.9% in the EU, compared with the previous quarter. Economists had expected a 1.5% increase in the euro area. In the first quarter of 2021, GDP had declined by 0.3% in the euro area and 0.1% in the EU.
Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 13.7% in the euro area and by 13.2% in the EU in the second quarter of 2021, after -1.3% in both zones in the previous quarter. Economists had expected a 13.2% increase in the euro area.
Among the Member States for which data are available for the second quarter 2021, Portugal (+4.9%) recorded the highest increase compared to the previous quarter, followed by Austria (+4.3%) and Latvia (+3.7%), while Lithuania (+0.4%) and Czechia (+0.6%) recorded the lowest increase. The year on year growth rates were positive for all countries.
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