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EZ Q2 PRELIM. FLASH GDP +2.0% Q/Q SA, +13.7% Y/Y WDA

EZ Q1 GDP -0.3% Q/Q SA; -1.3% Y/Y WDA

  • The EZ economy expanded in Q2 by +2.0% as the reopening of the economy provided a boost to economic activity.
  • GDP came in better than markets expected (BBG: +1.5%).
  • Annual GDP surged to +13.7% in Q2, up from -1.3% seen in Q1 2021, reflecting the sharp decline at the beginning of the pandemic.
  • Among the member states for which data is available, Portugal (+4.9%), Austria (+4.3%) and Latvia (+3.7%) saw the largest gains, while Lithuania (+0.4%), France (+0.9%) and Belgium (+1.4%) saw the smallest quarterly gains.
  • None of the member states posted a decline of quarterly GDP in Q2.
  • Eurostat noted that the year on year growth rates were positive for all countries as well.



Source: Eurostat