Home Economy GDP in the eurozone in the second quarter grew by 4% in...

GDP in the eurozone in the second quarter grew by 4% in annual terms

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Eurozone GDP growth in the second quarter amounted to 4% in annual terms, 0.7% – in quarterly terms. Inflation in July accelerated to 8.9% after 8.6% in June, which became a historical maximum. As follows from the preliminary data of the Statistical Office of the European Union, in annual terms, the volume of GDP in the Eurozone grew by 4%. Experts expected GDP to grow by 0.2% in quarterly terms and by 3.4% in annual terms, Reuters notes. The largest growth rates were recorded in Sweden (+1.4% qoq), Spain (+1.1%), and Italy (1%). GDP of Latvia decreased by 1.4% in quarterly terms, Lithuania – by 0.4%, Portugal. The annual dynamics of GDP in all EU countries was positive, according to Eurostat. At the end of the month, inflation grew by 0.1%, year-on-year – up to 8.9%. It exceeds the European Central Bank’s (ECB’s) inflation target of 2% by more than four times. The growth of inflation is due to the increase in energy prices – in annual terms, their cost increased by 39.7%. News….

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