Things are improving – slowly, but the expected growth has been achieved. But that does not apply to all European countries.
The eurozone economy grew as strongly in the spring as it did in the winter. Gross domestic product (GDP) rose by 0.3 percent in the second quarter compared to the previous quarter, the statistics office Eurostat announced on Wednesday after a second estimate. Economists had expected the initial estimate to be confirmed.
At the beginning of the year, the economy in the 20 countries of the common currency area had already grown by 0.3 percent. In a year-on-year comparison, Eurostat reported an increase in economic output of 0.6 percent for the second quarter. Here, too, the initial estimate was confirmed.
There were clear differences in economic development in the four largest economies in the Eurozone. The Spanish economy grew particularly strongly. Here, GDP increased by 0.8 percent. In France, the economy grew by 0.3 percent and in Italy by 0.2 percent. The German economy, on the other hand, shrank. The gross domestic product of the largest economy in the Eurozone fell by 0.1 percent.
Source: Stern
