The EU and Eurozone economy continues to grow in the second quarter

September 7, 2018 10:54 pmComments Off on The EU and Eurozone economy continues to grow in the second quarterViews: 11

Eurozone economyThe European Union (EU) economy grew by 0.4% in the second quarter of 2018, according to the original seasonally adjusted data of Eurostat. Thus, the EU economy kept its growth in the first three months of this year.

On an annual basis, however, the gross domestic product of the EU increased by 2.1% in the period April-June. However, there was a slight slowdown in comparison with the previous quarter when annual economic growth of 2.3% was reported.

The Eurozone economy grew at the same rate of 0.4% in the second quarter of 2018 and also remained unchanged compared to January-March this year. On an annual basis, the increase is the same as in the EU as a whole – from 2.1%, but there is also a slight slowdown, with growth in the first quarter of 2.4% on an annual basis.

With its results, the Eurozone and the EU are lagging behind the US, whose economy grew by 1% quarter on quarter and by 2.9% on a yearly basis in the second quarter.

Among the EU Member States, the highest quarterly GDP growth was recorded in Malta (1.9%), followed by Estonia and Romania (1.4%). The lowest growth rate in the previous quarter was observed in Denmark, Greece, France and Italy – by 0.2%.

On an annual basis Malta ranks first with growth of 5.7% in April-June. Immediately followed by Poland with 5.0% and Hungary with 4.6%. Denmark has weakest growth of 0.6%.

Comments are closed