The Eurozone quarterly economic growth was confirmed at 0.2 percent in the second quarter of 2019, compared to a 0.4 percent expansion in the previous period.
Germany's gross domestic product contracted 0.1 percent (vs 0.4 percent in Q1), mainly due to a slump in exports; while Italy's economy stagnated (vs 0.1 percent in Q1), as both trade and domestic demand made zero contribution to growth. In addition, GDP growth slowed in France (0.2 percent vs 0.3 percent), Spain (0.5 percent vs 0.7 percent), Austria (0.2 percent vs 0.4 percent), Belgium (0.2 percent vs 0.3 percent), Lithuania (0.9 percent vs 1.2 percent), and Slovakia (0.4 percent vs 0.7 percent); while it was unchanged in the Netherlands (at 0.5 percent), Portugal (at 0.5 percent), Cyprus (at 0.7 percent) By contrast, Finland's economic growth accelerated to 0.9 percent (vs 0.5 percent in Q1) and Latvia's economy expanded 0.8 percent (vs -0.1 percent in Q1).
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. 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).
8/14/2019 9:18:21 AM