Among countries for which data is already available, GDP expanded at a faster pace in Spain (0.9 percent from 0.8 percent in Q1). Meanwhile, GDP growth was unchanged in France (at 0.5 percent) and Austria (at 0.8 percent), and slowed in Belgium (0.4 percent from 0.6 percent in Q1), Latvia (1.3 percent from 1.6 percent) and Lithuania (0.6 percent from 1.3 percent). Germany, the biggest economy in the Euro Area, is expected to release preliminary GDP estimates in two weeks.
Compared with the same quarter of the previous year, the Euro Area economy expanded 2.1 percent, following a 1.9 percent growth in the previous period and also in line with market consensus.
Considering the European Union, the GDP growth accelerated to 0.6 percent quarter-on-quarter (0.5 percent in Q1) and to 2.2 percent year-on-year (2.1 percent in Q1).