Euro Area GDP Growth Slows to 0.3% in Q2

The Eurozone economy expanded 0.3 percent on quarter in the three months to June of 2016, cooling from a 0.6 percent growth in the previous period but in line with market expectations. It is the lowest growth rate in three quarters as the French economy stalled, preliminary estimates showed.

Among countries for which data is already available, France stagnated due to a sharp slowdown in consumer spending and a fall in investment and exports. The Spanish economy advanced 0.7 percent, slightly below a 0.8 percent growth in the previous three periods. Austria (0.3 percent from 0.4 percent in Q1) and Lithuania (0.1 percent from 0.8 percent in Q1) also cooled while Belgium expanded at a faster pace (0.5 percent from 0.2 percent in Q1). Germany, the biggest economy, is expected to release preliminary GDP estimates in two weeks.

Year-on-year, the Euro Area economy expanded 1.6 percent, lower than 1.7 percent in the previous two quarters but matching market estimates. 

Considering the European Union, the GDP expanded at a slower 0.4 percent over the previous quarter (0.5 percent in Q1). Year-on-year, the economy advanced 1.8 percent, the same as in the previous quarter. 

Euro Area GDP Growth Slows to 0.3% in Q2

Eurostat | Joana Taborda |
7/29/2016 10:33:15 AM