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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

September 06, 2019
EU AND EURO AREA GDP, Q2 2019 [REVISED]

 

In the revised estimate, Eurostat reports that real GDP growth slowed to 0.7 per cent (seasonally adjusted annualized rate) in the European Union, unrevised from the previous estimate. Real GDP growth slowed to 0.8 per cent (unrevised) in the Euro Area in the second quarter of 2019. In the previous quarter, real GDP rose 2.0 per cent in the European Union and 1.7 per cent in the Euro Area.

Comparing Q2 2019 with Q2 2018, seasonally adjusted real GDP rose by 1.4 per cent in the European Union and 1.2 per cent in the Euro Area.  

In the European Union, household consumption expenditure rose by 0.3 per cent and government consumption expenditures grew 0.4 per cent in Q2. Gross fixed capital formation growth slowed to 0.4 per cent. Exports declined 0.3 per cent while imports declined 1.4 per cent. 

In the Euro Area, growth slowed for household consumption expenditure (+0.2 per cent) and government consumption expenditure (+0.3 per cent) in Q2. Gross fixed capital formation grew 0.5 per cent in Q2 compared to 0.2 per cent in Q1. Exports were unchanged this quarter while imports rose 0.2 per cent.

Source: Eurostat



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