The growth of the EU economy was stronger than initially thought

In the countries of the eurozone, the economy grew by 0.8 percent in the quarter, and by 4.1 percent year-on-year. These are also better numbers than the preliminary data indicated.

Despite the improvement, year-on-year growth in both the EU and the eurozone is weaker than in the first quarter. At that time, the EU economy showed a year-on-year increase of 5.5 percent, and the economy of the eurozone by 5.4 percent.

For comparison – the economy of the United States decreased by 0.1 percent in the second quarter against the previous three months. It thus continued the development in the first quarter, when its decline amounted to 0.4 percent. On a year-over-year basis, the United States’ GDP grew by 1.7 percent after growing by 3.5 percent in the first quarter.

The Czech economy grew by 3.7 percent year-on-year in the second quarter

Economy

These are data converted using the methodology used by the EU, the United States uses a conversion for the whole year, so the result according to their methodology is different.

The most significant growth in the EU was recorded by the Netherlands, where the economy grew by 2.6 percent compared to the previous quarter. It is followed by Romania (+2.1 percent) and Croatia (+2.0 percent).

Growth in the Czech Republic slowed to 0.5 percent. Poland (-2.1 percent), Estonia (-1.3 percent), Latvia (-1.0 percent) and Lithuania (-0.5 percent) registered the most significant drop in the EU.

The article is in Czech

Tags: growth economy stronger initially thought

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