EUROZONA economy grew by 0.3 percent in the second quarter of the year compared to the previous quarter.
European Statistical Administration (Eurostat) published outstripping data on gross domestic product (GDP) and employment for the second quarter in the European Union and Eurozone.
According to data, the seasonally adjusted GDP in the eurozone in the second quarter increased by 0.3 percent compared to the first quarter.
GDP in the eurozone in the second quarter of the year increased by 0.6 percent compared to the same period last year.
The market expectations were that GDP in the eurozone would increase by 0.3 percent in quarterly calculus and 0.6 percent in annual calculus.
It is noteworthy that the released data turned out to be at the level of market expectations. The seasonally adjusted GDP in the EU in the second quarter of the year increased by 0.3 percent in quarterly calculus and by 0.8 percent in annual calculus.
In the second quarter of Germany GDP, it decreased by 0.1 percent, France GDP increased by 0.3 percent, Italy – by 0.2 percent and Spain – by 0.8 percent compared to the previous quarter.
Employment in the eurozone increased by 0.2 percent in the second quarter compared to the first quarter and 0.8 percent compared to the second quarter of last year.
In the EU, employment in the second quarter increased by 0.2 percent compared to the previous quarter and 0.7 percent compared to the same quarter of last year.