Gross domestic product (GDP) of the eurozone and the European Union as a wholeaa increased by 0.2% in the second quarter compared to the previous three months, therefore the pace of expansion was reduced by one tenth for both regions observed during the first quarter, according to the third reading of the data published by Eurostat.
Compared with the same quarter of the previous year, GDP grew by 0.6% in the euro area and by 0.8% in the EU, compared with a year-on-year increase of 0.5% in the euro area and 0.7% in the EU compared with the previous quarter. In the second quarter of 2024, US GDP rebounded to 0.7% after an improvement of 0.4% of the first quarter, while, compared to the same quarter of the previous year, the American GDP increased by 3.1%.
Among the EU states for which second quarter data are available, the strongest GDP growth was recorded in Poland (1.5%), Greece (1.1%) and the Netherlands (1%). In contrast, GDP contractions were recorded in Ireland (-1%), Latvia (0.9%) and Austria (-0.4%).
In the case of Spain, GDP growth in the second quarter remained at 0.8% per quarter, while compared to the same period in 2023 it was 2.9%.
