The 20-nation Euro-Area saw Second Quarter 2023 GDP Growth lower than the First Quarter by 0.5%. After achieving a 1.1% growth in the first quarter of this year, this flash estimate fell to 0.6%. Although this was higher than analysts expected, it still does not bode well for the Euro-Area Economies.
Note: This may be confusing. The European Union is now reporting two Economic Reports: one for the entire European Union (27 countries) and one for the Euro-Area (the top 20 Countries).
Ireland led the way for this 20-nation Euro-Area report, which saw its economy grow by 3.3% in the second quarter, with Lithuania also showing strong growth with a 2.8% gain in its GDP for the quarter. In contrast, Sweden reported the weakest economic growth for the period, with a decline of 1.5%.
Eurostat will update this Second Quarter 2023 GDP report on August 16, 2023.
The Complete Euro-Area report can be found here:
Photo: An Irish Cottage
