Euro area GDP beats estimates to grow 2% in Q2
The seasonally adjusted gross domestic product (GDP) in the euro area increased by 2% in the second quarter of the year when compared to the previous three-month period, beating market projections, Eurostat’s preliminary flash estimate showed on Friday.
At the same time, the GDP of the European Union had a quarterly growth of 1.9%. On a yearly basis, the euro area’s GDP rose 13.7%, while the EU’s GDP gained 13.2%.
When it comes to EU Member States, Portugal recorded the biggest increase rising by 4.9%, followed by Austria and Latvia. Meanwhile, Lithuania and the Czech Republic registered the lowest gains, increasing 0.4% and 0.6% respectively.
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