Euro Area GDP Growth Slows to 0.3% in Q2

The Eurozone economy expanded 0.3 percent on quarter in the three months to June of 2016, cooling from a 0.6 percent growth in the previous period but in line with market expectations. It is the lowest growth rate in three quarters as the French economy stalled, preliminary estimates showed.
Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com 7/29/2016 10:33:15 AM
Among countries for which data is already available, France stagnated due to a sharp slowdown in consumer spending and a fall in investment and exports. The Spanish economy advanced 0.7 percent, slightly below a 0.8 percent growth in the previous three periods. Austria (0.3 percent from 0.4 percent in Q1) and Lithuania (0.1 percent from 0.8 percent in Q1) also cooled while Belgium expanded at a faster pace (0.5 percent from 0.2 percent in Q1). Germany, the biggest economy, is expected to release preliminary GDP estimates in two weeks.

Year-on-year, the Euro Area economy expanded 1.6 percent, lower than 1.7 percent in the previous two quarters but matching market estimates. 

Considering the European Union, the GDP expanded at a slower 0.4 percent over the previous quarter (0.5 percent in Q1). Year-on-year, the economy advanced 1.8 percent, the same as in the previous quarter. 

Euro Area GDP Growth Slows to 0.3% in Q2