The euro zone economy recorded growth of 0.1% in the second quarter of 2023 compared to the previous three months, the same as in the first part of the year, Eurostat confirmed today.
On your side, as a whole European Union, GDP stagnated between April and June, after the growth of 0.2% in the first trimester.
In Comparison with the second quarter of 2022 the GDP of the euro zone grew in 0.5% and the one who UE And 0.4%.
If we look at the component breakdown, quarterly GDP was boosted by thats Inventory improvements in the euro area (0.4%) As for that AEs (0.2%)The Fixed investments (each 0.1%) and that public spending but only this last epigraph contributed a tenth to the eurozone and nothing to the EU.
On the other hand, Household consumption was neutral in both areas Although the outer balance was negative by 0.4% for the euro area and 0.3% for the Union.
Which countries are growing more and less?
Corresponds to the highest quarterly growth rate among the EU countries for which data are available Lithuania (2.9%)before Slovenia (1.4%) and Greece (1.3%)). In contrast, the worst performing countries were during the quarter Poland (-2.2%), Sweden (-0.8%) and Austria (-0.7%).
Among the major EU economies between April and June Germany stagnated after falling 0.1% in the first quarter, while France accelerated its expansion 0.5% from zero previous growth while in Italy’s GDP down 0.4% after growth of 0.6% in the first quarter.
In the case of Spain GDP growth weakened in the second quarter 0.4% of 0.5% in the first three months of 2023.
Therefore, GDP growth in the euro zone was again well below that in the USA which posted a % increase in both the first and second quarters 0.5%.