The eurozone economy grew by 0.2 percent in the second quarter compared to the previous quarter, the Eurostat statistics agency reports on the basis of a new estimate. The growth in gross domestic product (GDP) is therefore lower than in the previous period.
The Eurostat figure is in line with the expectations that economists have on the average. Compared with a year earlier, the eurozone economy grew by 1.1 percent. This too was in line with the average expectation of economists.
Eurostat also reported growth of 0.2 percent on a quarterly basis for the entire European Union. The EU economy grew by 1.3 percent on an annual basis.
Employment in the euro countries grew on average by 0.2 percent in the past quarter compared to the previous three months. Employment growth of 0.2 percent was also recorded for the entire European Union. This was 0.4 percent in the first quarter for both the euro zone and the EU.
According to ING experts, the eurozone economy is flirting openly with further stimulus measures by the European Central Bank. The question is whether governments are willing to offer extra support, given the risks. ING cites, among other things, the Brexit, the Italian political unrest and the ongoing trade war between the US and China as threats to the economy.