Eurozone GDP Growth Slows to 0.1% in Q2 2023
Data from the European Statistical Agency showed that eurozone GDP growth was cut by a third to 0.1% in the second quarter of 2023 on a quarterly basis.
European Statistical Agency Reports
Eurostat reported that the gross domestic product of the eurozone, according to the third reading, grew in the second quarter of 2023 year on year by 0.5%, and quarterly – by 0.1%.
Preliminary estimates assumed growth rates of 0.6% and 0.3%, respectively. In the first quarter, eurozone GDP growth was 1.1% year on year and 0.1% quarterly.
GDP Growth in the European Union
As for the European Union (it includes 27 countries) as a whole, the GDP of the EU countries grew in the second quarter of 2023 on the third reading by 0.4% year on year, while GDP did not increase. record any growth quarterly.