The economy Eurozone economy grows in the second quarter

The eurozone economy grew as strongly in the spring as it did in the winter. Gross domestic product (GDP) rose by 0.3 percent in the second quarter compared to the previous quarter, the statistics authority Eurostat announced on Wednesday following a second estimate.

Economists had expected the first estimate to be confirmed. The economy in the 20 countries of the single currency area had already grown by 0.3 percent at the beginning of the year. In a year-on-year comparison, Eurostat reported an increase in economic output of 0.6 percent for the second quarter. Here too, the initial estimate was confirmed.

There were clear differences in economic development in the four largest economies in the eurozone. The Spanish economy grew particularly strongly. Here, GDP increased by 0.8 percent. In France, the economy grew by 0.3 percent and in Italy by 0.2 percent. In contrast, the German economy contracted. The gross domestic product of the eurozone's largest economy fell by 0.1 percent.