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Eurozone GDP growth accelerates to 0.4% in Q2
Eurozone GDP rose 0.4% quarter on quarter in Q2, versus a 0.0% pace in Q1, and annual growth firmed to 1.0%.
Eurozone economic growth accelerated in the second quarter, with preliminary data from Eurostat showing GDP increased 0.4% quarter on quarter, ahead of expectations for 0.2% and an improvement from the 0.0% pace in the first quarter, according to Action Forex.
The broader EU economy also picked up, expanding 0.5% quarter on quarter versus 0.1% in the prior period, suggesting the region regained momentum despite ongoing geopolitical tensions and trade uncertainty.
On an annual basis, Eurozone GDP growth accelerated to 1.0% year on year from 0.5%, while EU growth rose to 1.2% from 0.8%. Country level data pointed to a wider expansion, with Spain and Portugal continuing to outperform and several smaller economies, including Sweden and Finland, posting robust gains, the outlet said.
Action Forex noted that stronger-than-expected figures should provide some reassurance, while emphasizing the pace remains moderate, with Germany still recovering gradually and domestic demand showing little sign of overheating.