GDP of the European Union presented growth of 2 %
The euro area showed signs of improvement compared to the first three months of the year, where it suffered a 0.3 % contraction
The Gross Domestic Product (GDP) of the European Union (EU) grew at a rate of 2 % in the second quarter of the year compared to the first three months of 2021, when it had suffered a contraction of 0.3 %, according to the new estimate of the data published by the community statistical office, Eurostat.
The eurozone thus exceeded the growth rate registered by the United States economy in the second quarter, which between April and June expanded at a rate of 1.6 %, after having grown by 1.5 % in the first quarter of the year, although it was far from the 4.8 % observed in the United Kingdom.
In the European Union as a whole, economic activity rebounded by 1.9 % between April and June, after registering a decline of 0.1% in the first quarter.
Thus, compared to the same quarter of 2020, the euro zone economy rebounded by 13.6 % year-on-year, while the GDP of the EU as a whole grew by 13.2 %.
Among the EU Member States for which data were available for the second quarter of 2021, Portugal (+ 4.9 %) recorded the largest increase in activity compared to the previous quarter, followed by Austria (+4, 3 %) and Latvia (+ 3.7 %), while Cyprus (+ 0.2 %), Lithuania and Bulgaria (+ 0.4 % both) registered the lowest growth.
K. Tovar
Source: El Confidencial
