Seasonally adjusted Gross Domestic Product (GDP) rose by 0.2% in both the Eurozone (EA19) and the European Union (EU28) during Q2 2019, compared with Q1 2019, according to a preliminary estimate published by Eurostat. Quarterly growth is now slowest in 5 years.
Government debt to GDP for the Eurozone stood at 85.9% at the end of Q1 2019 (as against 87.1% at the end of Q1 2018). For the European Union, the number was 80.7% (as against 81.6% at the end of Q1 2018).
Apparently, the European Central Bank (ECB) balance sheet was meant to shrink significantly in 2019. It has shrunk just 0.5% in 2019 until July 5th (as against 5% for the Federal Reserve in the same period).
At 4.67 trillion Euros (or around 41% of Euro area or Eurozone GDP), it doesn’t look like things are going to change quickly.
The seasonally adjusted current account of the balance of payments for the European Union was a surplus of €40.5billion or 1% of GDP in the first quarter (Q1) of 2019, up from a surplus of €40.2billion or 1.0% of GDP in the fourth quarter (Q4) of 2018 and down from a surplus of €58.3billion or 1.5% of GDP in the first quarter (Q1) of 2018, according to estimates released by Eurostat.
The Eurozone or Euro area (EA) seasonally-adjusted unemployment rate was 7.7% in March 2019, down from 7.8% in February 2019 and from 8.5% in March 2018. This is the lowest rate recorded in the euro area since September 2008.
The European Union (EU) unemployment rate was 6.4% in March 2019, down from 6.5% in February 2019 and from 7.0% in March 2018. This is the lowest rate recorded in the European Union since January 2000.
Seasonally adjusted GDP rose by 0.4% in the Eurozone or Euro area (EA) and by 0.5% in the European Union during Q1 (first quarter) of 2019, compared with Q4 2018, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union.
The 1980s was the Japanese decade with Japanese companies being the most valuable ones in the world and Japan being at the centre of the global economic growth. But since the 1990s, Japan has struggled with growth and deflation.
The Governing Council of the European Central Bank (ECB) expects the key ECB interest rates to remain at their present levels at least through the end of 2019.
The interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility are 0.00%, 0.25% and -0.40% respectively and these rates are expected to remain in place at least until the end of 2019.