The growth of economic activity in the EU remains stable compared to the increase observed between January and March this year, accelerating by a tenth in the countries of the single currency.
The gross domestic product (GDP) of both the eurozone and the European Union grew by 0.6% in the second quarter this year compared to the previous quarter, according to data released Wednesday by the Community Statistical Office. Eurostat.
Eurostat’s new calculation for the eurozone is based on: a tenth less than in the preliminary 0.7% estimate revealed in late July, but the figure doesn’t change for the bloc as a whole.
For example, the growth of economic activity in the EU stable when compared with the increase observed between January and March this year and it accelerates one tenth in the countries of the common currency, which registered a growth of 0.5% in the first three months of 2022.
Compared to the second quarter of 2021, this means a economic growth of 3.9% in the eurozone and 4% in the twenty-seven, numbers lower than the increases of 5.4% and 5.5% respectively in the first three months of the year.
On the other hand, there is a lower job creation, as the number of workers in the eurozone and in the EU increased by 0.3% in the second quarter of 2022 compared to the first three months of the year, when the increase was 0.6% and 0.5% respectively. However, it is an increase from the same quarter of 2021.
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Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
