Eurozone GDP up 0.5% year-on-year in Q2

Eurozone GDP in the second quarter of 2023 grew at an annual rate of 0.5%, and quarterly rate of 0.1%, Report informs via Eurostat.

Preliminary and interim estimates assumed an increase in indicators by 0.6% and 0.3%, respectively. For the first quarter, GDP growth in the euro area amounted to 1.1% in annual terms, and 0.1% in quarterly terms.

In turn, the total GDP of the EU countries in the second quarter, according to the third assessment, grew by 0.4% in annual terms, and in the quarter showed zero dynamics. A quarter earlier, the annual figure rose by 1.1%, and quarterly - by 0.2%.

On a quarterly basis, Lithuania (+2.9%), Slovenia (+1.4%) and Greece (+1.3%) saw the most notable growth, while Poland (-2.2%), Sweden (-0.8%) and Austria (-0.7%) saw the biggest decline.