Euro area 2nd quarter GDP growth revised lower

Single currency zone grows 0.6% year-on-year in April-June

By Tuba Ongun

Gross domestic product (GDP) in both the eurozone and the EU grew 0.2% quarter-on-quarter in April-June, slightly lower than initial estimates of a 0.3% rise, according to final reading released on Friday.

The figure eased from 0.3% growth in the first quarter, Eurostat data showed.

Poland (up 1.5%) recorded the largest GDP growth in the second quarter compared to the previous period, followed by Greece (up 1.1%) and the Netherlands (up 1.0%).

GDP contracted in Ireland (by 1.0%), Latvia (by 0.9%) and Austria (by 0.4%).

Government spending rose 0.6% while household consumption ticked down 0.1% and investment dropped 2.2% in the same period.

On an annual basis, GDP growth was confirmed at 0.6% in the euro area and 0.8% in the EU in second quarter of this year.

The eurozone/euro area or EA19 represents member states that use the single currency – the euro – while the EU27 includes all member countries of the bloc.

Kaynak:

This news has been read 72 times in total