Eurozone Q2 2018 GDP up by 0.3% and European Union Q2 2018 GDP up by 0.4% as Household saving rate falls to the lowest in over a decade

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.

EU GDP until Q2 2018 chart
Source: Eurostat

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.

EU GDP Q2 2018
Source: Eurostat

Meanwhile, the Household Saving rate has collapsed to the lowest in over a decade in both the Eurozone and the European Union

EU Saving Rate
Source: Eurostat and European Central Bank

 

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.

Related:

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

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