Eurozone GDP grew more than expected in the second quarter

According to Eurostat’s preliminary data, the seasonally adjusted gross domestic product (GDP) in the euro area increased by 0.3 percent in the second quarter and remained unchanged in the EU 27 member states compared to the previous quarter. In the first quarter, the gross domestic product in the euro area did not change and in the EU it increased by 0.2 percent.

Compared to a year earlier, in the second quarter, GDP increased by 0.6 percent in the euro zone and by 0.5 percent in the EU. In the first quarter, the annual growth in both regions was 1.1 percent.