The Eurozone economy grew 0.2 percent on quarter in the three months to June 2019, easing from a 0.4 percent expansion in the previous period and matching market expectations, a flash estimate showed.
Among countries for which data is already available, Italy's economy stagnated in the second quarter, following a 0.1 percent growth in the previous three-month period; while GDP growth slowed in France (0.2 percent vs 0.3 percent), Spain (0.5 percent vs 0.7 percent), Austria (0.3 percent vs 0.4 percent), Belgium (0.2 percent vs 0.3 percent), and Lithuania (0.9 percent vs 1.2 percent). By contrast, Latvia's economy expanded 0.8 percent in the second quarter, recovering from a 0.1 percent contraction in the previous period. 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 grew 1.1 percent in the second quarter, easing from 1.2 percent expansion in the previous period and compared to market expectations of 1 percent. That was the weakest growth rate since the last quarter of 2013.
Considering the European Union as a whole, GDP growth eased to 0.2 percent quarter-on-quarter (vs 0.5 percent in Q1); and to 1.3 percent year-on-year (vs 1.6 percent in Q1).
7/31/2019 10:15:32 AM