Eurozone GDP Growth Confirmed at 0.3% in Q2

The Eurozone's economy expanded 0.3 percent on quarter in the three months to June 2016 slowing from a 0.6 percent growth in the previous period and matching preliminary reading, second estimate showed. Among the largest economies of the Euro Area, GDP growth slowed in Germany and Spain; while growth in France and Italy was flat.

Among countries for which data is already available, GDP growth slowed in Germany (+0.4 percent from +0.7 percent), Spain (+0.7 percent from +0.8 percent); Cyprus (+0.7 percent from +1 percent); Lithuania (+0.1 percent from +0.9 percent); Finland (+0.3 percent from +0.6 percent). In contrast, activity expanded at a faster pace in Belgium (+0.5 percent from +0.2 percent); Estonia (+0.3 percent from 0 percent); Greece (+0.3 percent from -0.1 percent); Latvia (+0.4 percent from 0 percent); and Slovakia (+0.9 percent from +0.8 percent). The Netherlands (+0.6 percent), Portugal (+0.2 percent) and Romania (+1.5 percent) grew at the same pace as in the previous period.

Meanwhile, economic activity from France, Italy and Austria showed no growth in the second quarter.

The European Union economy advanced 0.4 percent on quarter compared to 0.5 percent in the previous period.

Year-on-year, the Euro Area economy expanded 1.6 percent, matching flash estimates and the European Union economy grew 1.8 percent.

Eurozone GDP Growth Confirmed at 0.3% in Q2

Eurostat | Joana Ferreira |
8/12/2016 10:35:03 AM