Seasonally adjusted GDP rose by 0.3% in the Eurozone and by 0.4% in the European Union (EU28) during the second quarter (Q2) of 2018, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union.
In the first quarter of 2018, GDP had grown by 0.4% in both the Eurozone and the European Union.
Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.1% in the Eurozone and by 2.2% in the European Union in the second quarter of 2018, after +2.5% and +2.4% respectively in the previous quarter.
Meanwhile, the Household Saving rate has collapsed to the lowest in over a decade in both the Eurozone and the European Union
The Eurozone includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
The European Union (EU28) includes Belgium, Bulgaria, the Czech Republic, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland, Sweden and the United Kingdom.
U.S. Q2 2018 GDP estimated at 4.1% as personal consumption soars but wage growth collapses
UK households have seen their outgoings surpass their income for the first time in nearly 30 years