The Eurozone economy grew by 0.2 percent in the second quarter of the year compared to the previous quarter.
The European Statistical Office (Eurostat) has published the second quarter gross domestic product (GDP) and employment data for the European Union (EU) and the Eurozone.
According to the data, seasonally adjusted GDP in the 20-member Eurozone increased by 0.2 percent in the second quarter of 2024 compared to the first quarter. GDP in the Eurozone also increased by 0.6 percent in the second quarter of the year compared to the same period last year.
Leading data showed that GDP in the Eurozone increased by 0.3 percent on a quarterly basis and 0.6 percent on an annual basis. The latest data released drew attention to the downward revision of quarterly growth.
In the EU, seasonally adjusted GDP increased by 0.2 percent on a quarterly basis and 0.8 percent on an annual basis in the second quarter of the year.
In the second quarter, GDP decreased by 1 percent in Ireland, 0.9 percent in Latvia, 0.4 percent in Austria, 0.3 percent in Sweden, 0.2 percent in Hungary and 0.1 percent in Germany compared to the previous quarter, while it increased by 0.2 percent in France and Italy and 0.8 percent in Spain.
In the second quarter, GDP fell by 4.1 percent in Ireland, 1.3 percent in Estonia, 1.2 percent in Finland, 0.6 percent in Austria and 0.1 percent in Latvia compared to the same period last year. GDP remained unchanged in Germany, but rose by 1 percent in France, 0.9 percent in Italy and 2.9 percent in Spain.
Employment in the euro area increased by 0.2 percent in the second quarter compared to the first quarter and by 0.8 percent compared to the second quarter of last year.
In the EU, employment increased by 0.1 percent in the second quarter compared to the previous quarter and by 0.8 percent compared to the same quarter last year.
