Euro Area Q2 GDP Annual Growth Rises, Up 2.2% On Year

--On Quarter Growth at +0.6%, Same as Prelim Flash Reading

By Shaily Mittal

     FRANKFURT (MNI) - Euro area economic growth in the second quarter of 2017

accelerated on both annual and quarterly readings, though the rate of

acceleration was much higher on an annual basis, data released by Eurostat

Wednesday showed.

     The updated flash estimate confirmed GDP growth at 0.6% q/q in the second

quarter, up from the 0.5% q/q growth in the first quarter. On the year, GDP rose

to 2.2% y/y (revised upwards from 2.1% y/y in prelimary flash reading) from 1.9%

in the previous quarter, offering supporting evidence to the recovery in the

economies of the Eurozone. 

     The fastest growing nations in the eurozone in Q2 consisted of the

Netherlands (calendar adj 1.5% q/q ), Latvia (1.3% q/q), and Cyprus, Spain,

Austria (all at 0.9% q/q)

     In the European Union as a whole GDP was up 0.6% q/q and 2.3% y/y, Eurostat

data showed. 

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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