Eurozone Q2 GDP Growth Rate 0.2%... Below Expectations

Eurostat, the statistical office of the European Union (EU), announced on the 6th (local time) that the GDP (Gross Domestic Product) of the Eurozone (20 countries using the euro) grew by 0.2% in the second quarter compared to the previous quarter.

This figure is 0.1 percentage points lower than the preliminary and provisional growth rate of 0.3% announced by Eurostat in July and August. It also falls short of the market expectation of 0.3% growth. The Eurozone releases GDP data three times each quarter: preliminary, provisional, and final figures.

By country, Poland had the highest GDP growth rate at 1.5%, followed by Greece (1.1%) and the Netherlands (1%). The countries with the lowest GDP growth rates were Ireland (-1%), Latvia (-0.9%), and Austria (-0.4%), respectively.