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Eurozone GDP grew by 0.2%

September, 06 2024
watermark Economic news

The Statistical Office of the European Union (Eurostat) has published final data on eurozone GDP growth in the second quarter. The eurozone economy grew by 0.2% compared to the previous three months and by 0.6% year-on-year, confirming preliminary estimates.


Despite the positive dynamics, consumer spending decreased by 0.1% compared to the previous quarter, and gross capital investment decreased by 2.2%. On the other hand, government spending increased by 0.6% and exports increased by 1.4%, while imports increased by 0.5%.


The dynamics of GDP in individual eurozone countries varies. Germany faced a 0.1% quarter—on-quarter GDP contraction, while France and Italy posted 0.2% growth and Spain 0.8%. 


Preliminary data on the dynamics of eurozone GDP in the third quarter will be published on October 30.


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Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.