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.
