Eurozone Q2 GDP Growth Below Forecasts


The Eurozone economy grew 0.3 percent on quarter in the three months to June 2018, following a 0.4 percent expansion in the previous period and missing market expectations of a 0.4 percent advance, a preliminary flash estimate showed. It was the weakest growth rate since the second quarter of 2016.

Among countries for which data is already available, GDP expanded at slower rates in: Italy (0.2 percent vs 0.3 percent in Q1); Spain (0.6 percent vs 0.7 percent); Austria (0.7 percent vs 0.8 percent); and Latvia (0.8 percent vs 1.5 percent). Meanwhile, GDP growth was unchanged in France (at 0.2 percent), Belgium (at 0.3 percent) and Lithuania (at 0.9 percent). Germany, the biggest economy in the Euro Area, is expected to release preliminary GDP estimates in two weeks.

Compared with the same quarter of the previous year, the Euro Area economy expanded 2.1 percent in the three months to June, following a 2.5 percent growth in the previous period and missing market consensus of 2.2 percent.

Considering the European Union as a whole, GDP growth was unchanged at 0.4 percent quarter-on-quarter; and eased to 2.2 percent year-on-year (vs 2.4 percent in Q1).

Eurozone Q2 GDP Growth Below Forecasts


Eurostat | Joana Ferreira | joana.ferreira@tradingeconomics.com
7/31/2018 10:03:37 AM