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Eurostat. GDP up by 0.7% in the euro area and by 0.6% in the EU

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In the second quarter 2022, seasonally adjusted GDP increased by 0.7% in the euro area and by 0.6% in the EU, 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 2022, GDP had grown

by 0.5% in the euro area and 0.6% in the EU. These preliminary GDP flash estimates are based on data sources that are incomplete and subject to further revisions.

Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 4.0% both in the euro area and in the EU in the second quarter of 2022, after +5.4% in the euro area and +5.5% in the EU in the previous quarter.

Among the Member States for which data are available for the second quarter 2022, Sweden (+1.4%) recorded the highest increase compared to the previous quarter, followed by Spain (+1.1%) and Italy (+1.0%). Declines were recorded in Latvia (-1.4%), in Lithuania (-0.4%) and in Portugal (-0.2%). The year on year growth rates were positive for all countries.