Eurozone grew 0.3 percent in the second quarter

The eurozone economy grew 0.3 percent in the second quarter of this year compared to the previous quarter.

The European Statistical Office (Eurostat) has updated the main data on the growth rates of the European Union (EU) and the Eurozone in the second quarter of 2023.

Consequently, the seasonally adjusted Gross Domestic Product (GDP) in the 20-member euro zone increased by 0.3 percent in the second quarter of 2023 compared to the previous quarter.

In the euro area, GDP increased by 0.6 percent in the second quarter of the year compared to the same period of the previous year.

GROWTH ACHIEVED IN LINE WITH EXPECTATIONS

The latest growth data announced was in line with market expectations.

Seasonally adjusted EU GDP was unchanged in the second quarter compared to the previous quarter, but increased by 0.5 percent compared to the same period a year earlier.

In the growth data for the first quarter, it was determined that the Eurozone economy did not grow.

GROWTH DATA BY COUNTRY

On the other hand, GDP increased by 3.7% in Poland, 1.5% in Sweden, 0.6% in Latvia, 0.4% in Austria and the Greek Cypriot Administration (GCA) in the second quarter in comparison with the previous quarter. Italy, Hungary, the Netherlands and Estonia.

GDP, which remained stable in Germany and Portugal, increased by 0.4% in Spain and 0.5% in France. (AA)