Eurozone Q2 preliminary GDP 0.3% vs. 0.2% Q/Q expected

• Eurozone Flash Q2 GDP Y/Y 0.6% vs. 0.5% expected and 0.4% prior.
• Eurozone Flash Q2 GDP Q/Q 0.3% vs. 0.2% expected and 0.3% prior.

Among the Member States for which data are available for the second quarter of 2024, Ireland (+1.2%) recorded the highest increase compared to the previous quarter, followed by Lithuania (+0.9%) and Spain (+0.8%). The highest declines were recorded in Latvia (-1.1%), Sweden (-0.8%) and Hungary (-0.2%). The year on year growth rates were positive for eight countries and negative for three.

That’s a welcome pickup in the Eurozone economy in the second quarter which is something we have already seen via the PMIs. The rate cuts from the ECB in the next quarters might increase the confidence and boost growth.

This article was written by Giuseppe Dellamotta at www.forexlive.com.