Eurozone grew by 2 percent in the second quarter

The Eurozone economy grew by 2 percent compared to the previous quarter in the second quarter of the year, when the coronavirus measures softened.

The European Statistical Office (Eurostat) has published the leading data on the growth and employment rates of the European Union (EU) and Eurozone for the second quarter of 2021.

DATA INCREASED COMPARED TO THE PREVIOUS QUARTER AND THE SAME PERIOD OF LAST YEAR
Accordingly, the seasonally adjusted Gross Domestic Product (GDP) in the 19-member Eurozone increased by 2 percent in the second quarter of 2021 compared to the previous quarter. In the second quarter of 2021, GDP in the euro area increased by 13.6% compared to the same period of 2020.

ECONOMIC GROWTH IN THE EU HAS BEEN 1.9
Seasonally adjusted GDP in the EU, on the other hand, increased by 1.9 percent in the second quarter of this year compared to the previous quarter, and by 13.2 percent compared to the second quarter of 2020.

GDP contracted by 0.1 percent in the EU and 0.3 percent in the Euro Area in the first quarter of the year.

GNP INCREASED HIGHEST IN SPAIN
In the second quarter, GDP increased by 1.5 percent in Germany, 0.9 percent in France, 2.7 percent in Italy, 2.8 percent in Spain and 3.1 percent in the Netherlands compared to the previous quarter.

EMPLOYMENT INCREASED
Employment in the Euro Area increased by 0.5 percent in the second quarter of the year compared to the previous quarter. Employment increased by 1.8 percent compared to the second quarter of 2020. Seasonally adjusted employment in the EU also increased by 0.6 percent in the second quarter compared to the previous quarter and by 1.8 percent compared to the same quarter of the previous year.