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.
Real gross domestic product (GDP) for the United States increased at an annual rate of 2.1% in the Q2 2019 (vs 3.1% in Q1 2019), according to the advance estimate released by the Bureau of Economic Analysis.
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).
UK gross domestic product (GDP) in volume terms was estimated to have increased by 0.5% in Q1 (January to March) 2019. In comparison with the same quarter a year ago (Q1 2018) UK GDP increased by 1.8%, the fastest growth since Q3 2017.
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.
Real gross domestic product (GDP) for the U.S. increased at an annual rate of 3.2% in the first quarter (Q1) of 2019, according to the advance estimate released by the Bureau of Economic Analysis (BEA).
The European Commission slashed their GDP growth forecast for the European Union (excluding the United Kingdom) and the Eurozone for 2019 and 2020 citing slowing growth in China and weakening global trade.
The growth forecast for 2019 for the European Union (excluding the United Kingdom) was cut to 1.5% for 2019 (was previously forecast 2%) and for the Eurozone was cut to 1.3% (was previously forecast 1.9%).
Germany, Italy and the Netherlands all saw big downgrades for their growth outlook.