Euro area seasonally-adjusted GDP rises 0.7% in Q2 over Q1, 0.6% in EU

In the first quarter of 2022, GDP had grown by 0.5 per cent in the euro area and by 0.6 per cent in the EU.

Compared with the same quarter of the previous year, seasonally-adjusted GDP increased by 4 per cent both in the euro area and in the EU in Q2 2022, after 5.4 per cent in the euro area and 5.5 per cent in the EU in the previous quarter.

Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in July (39.7 per cent compared with 42 per cent in June), followed by food, alcohol and tobacco (9.8 per cent compared with 8.9 per cent in June), non-energy industrial goods (4.5 per cent compared with 4.3 per cent in June) and services (3.7 per cent compared with 3.4 per cent in June).

ALCHEMPro News Desk (DS)