Eurozone GDP growth accelerated to 0.6% in the second quarter, despite the war
Eurozone gross domestic product (GDP) increased in the second quarter of 2022 by 0.6% compared to the previous three months, when it recorded an expansion of 0.5%, according to the second reading of the data published by Eurostat, which lowers the first estimate by one tenth.
In the European Union as a whole, the GDP growth rate remained at 0.6% in the first quarter, despite the impact of the war in Ukraine. Compared to the second quarter of 2021, the increase in activity in the euro zone was 3.9% and 4% for the Twenty-seven.
In this way, GDP growth of 0.6% in the eurozone and EU in the second quarter of 2022 contrasts with contractions over the same period in the United Stateswith a drop in activity of 0.2%, and in the United Kingdom, where GDP fell by 0.1% over the quarter.
Of the Member States for which data are available for the second quarter of 2022, The Netherlands (2.6%) recorded the largest increase compared to the previous quarterahead of Romania (2.1%) and Sweden (1.4%), while there was GDP declines in Poland (-2.3%)Latvia (-1.4%), Lithuania (-0.4%) and Portugal (-0.2%).
In Spain, GDP growth was 1.1% in the second quarterafter rising 0.2% in the first quarter of the current year.
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