Eurozone Q2 GDP Growth Revised Higher to 0.4%

The Eurozone economy expanded by 0.4 percent in the second quarter of 2018, the same pace as in the previous period and above a preliminary reading of 0.3 percent growth. The latest upward revision comes after Germany, the bloc's largest economy, recorded a better-than-expected 0.5 percent expansion in the second quarter.

Among countries for which data is already available, the GDP growth picked up in Germany (0.5 percent vs 0.4 percent in Q1), the Netherlands (0.7 percent vs 0.6 percent) and Portugal (0.5 percent vs 0.4 percent); and was unchanged in France (at 0.2 percent), Belgium (at 0.3 percent), Lithuania (at 0.9 percent) and Slovakia (at 1 percent). Meanwhile, GDP expanded at a slower pace in Italy (0.2 percent vs 0.3 percent); Spain (0.6 percent vs 0.7 percent), Finland (0.5 percent vs 1.2 percent), Austria (0.5 percent vs 0.9 percent), Latvia (0.8 percent vs 1.5 percent) and Cyprus (0.8 percent vs 1 percent). 

Compared with the same quarter of the previous year, the Euro Area economy expanded 2.2 percent in the three months to June, following a 2.5 percent growth in the previous period and beating a preliminary estimate of 2.1 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 Revised Higher to 0.4%

Eurostat | Joana Ferreira |
8/14/2018 9:33:16 AM