Euro area's GDP in Q2 2023 grows 0.3% QoQ, stable in EU

17 Aug '23

2 min read

Pic: Shutterstock/Niphon Subsri

Insights

In Q2 2023, the euro area's seasonally adjusted GDP rose by 0.3 per cent QoQ and remained stable in the EU, as per a flash estimate by the Eurostat.
Annually, GDP grew 0.6 per cent in the euro area and 0.5 per cent in the EU, after a 1.1 per cent rise in the previous quarter.
In the US, GDP increased by 0.6 per cent QoQ, and 2.6 per cent YoY.

In the second quarter (Q2) of 2023, seasonally adjusted gross domestic product (GDP) increased by 0.3 per cent quarter-on-quarter (QoQ) in the euro area and was stable in the European Union (EU), according to a flash estimate by the Eurostat.

In Q1 2023, GDP had remained stable in the euro area and had increased by 0.2 per cent in the EU, Eurostat, the statistical office of EU, said in a press release.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.6 per cent in the euro area and by 0.5 per cent in the EU in Q2 2023, after a 1.1 per cent increase in both zones in the previous quarter.

During Q2 2023, GDP in the US increased by 0.6 per cent compared to the previous quarter—after a rise of 0.5 per cent in Q1 2023. Compared with the same quarter of the previous year, GDP increased by 2.6 per cent—after a 1.8 per cent jump in the previous quarter.

The number of employed persons increased by 0.2 per cent in both the euro area and the EU in Q2 2023, compared with the previous quarter. In Q1 2023, employment had increased by 0.5 per cent in both zones.

Compared with the same quarter of the previous year, employment increased by 1.5 per cent in the euro area and by 1.3 per cent in the EU in Q2 2023, after a 1.6 per cent rise in both zones in Q1 2023.

Fibre2Fashion News Desk (NB)

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