Eurozone Q2 GDP Growth Confirmed at 0.6%


The Eurozone economy advanced 0.6 percent on quarter in the three months to June of 2017, in line with the preliminary estimate and following a 0.5 percent growth in the previous period. Among Eurozone's largest economies, GDP growth picked up in Spain; was unchanged in France and Italy; and slowed in Germany.

Among countries for which data is already available, GDP expanded at a faster pace in Spain (0.9 percent from 0.8 percent in Q1), the Netherlands (1.5 percent from 0.6 percent) and Austria (0.9 percent from 0.7 percent).

Meanwhile, GDP growth was unchanged in France (at 0.5 percent), Italy (at 0.4 percent) and Slovakia (at 0.8 percent), and slowed in Germany (0.6 percent from 0.7 percent in Q1), Belgium (0.4 percent from 0.6 percent), Cyprus (0.9 percent from 1 percent), Latvia (1.3 percent from 1.6 percent), Lithuania (0.6 percent from 1.3 percent) and Portugal (0.2 percent from 1 percent). 

By contrast, the Finnish economy contracted 0.5 percent after growing 1 percent in the previous period.

Compared with the same quarter of the previous year, the Euro Area economy expanded 2.2 percent, above the preliminary estimate of 2.1 percent and following a 1.9 percent growth in the previous period. 

Considering the European Union, the GDP growth accelerated to 0.6 percent quarter-on-quarter (0.5 percent in Q1) and to 2.3 percent year-on-year (2.1 percent in Q1).  

Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
8/16/2017 9:14:10 AM