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- Eurozone GDP up 0.2 percent in Q2
Eurozone GDP up 0.2 percent in Q2
Eurostat, the
statistical office of the European Union (EU) reported its final estimates
showed that Eurozone GDP grew by 0.2 percent q-o-q in the second quarter, unchanged
from the previous estimates. In the first quarter, the GDP rose by 0.4 percent
q-o-q.
In y-o-y terms,
Eurozone’s economy expanded by 1.2 percent in the second quarter compared to +1.1
percent in the previous estimate and +1.2 percent in the prior three-month
period.
Economists had
forecast that both final quarterly and annual rates of the GDP growth would be
left unrevised.
According to
the report, household final consumption expenditure in the euro area rose by 0.2
percent q-o-q, while gross fixed capital formation increased by 0.5 percent
q-o-q. Exports were flat q-o-q and imports increased by 0.2 percent q-o-q.
Among the
bloc’s largest economies, the United Kingdom (-0.2 percent), Germany (-0.1
percent) and Sweden (-0.1 percent) posted declines, while Italy stagnated.
The report also
revealed that employment in Eurozone increased by 0.2 percent q-o-q in the
second quarter and 1.2 percent y-o-y. In the first quarter, the number of
persons employed rose 0.3 percent q-o-q and 1.3 percent y-o-y.
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