Euro Area GDP Rises 0.6% in Q2 as Employment Edges Up 0.1%
Updated
Updated · European Commission · Sep 7
Euro Area GDP Rises 0.6% in Q2 as Employment Edges Up 0.1%
3 articles · Updated · European Commission · Sep 7
Summary
Eurostat’s updated estimate put euro area Q2 GDP growth at 0.6% quarter on quarter, with annual growth accelerating to 1.2% from 0.6% in Q1.
Exports minus imports contributed 0.9 percentage points to growth and household spending added 0.2 points, offsetting a 0.5-point drag from inventories.
Employment in the euro area rose 0.1% from the prior quarter to 176.4 million people, while hours worked also increased 0.1%; annual employment growth held at 0.5%.
Ireland led member-state GDP growth at 10.2%, while Austria was the only economy to contract at 0.1%; Portugal posted the strongest employment gain at 1.0%.
The euro area outpaced U.S. quarterly GDP growth of 0.4%, though U.S. annual growth remained higher at 2.1%.