Eurozone GDP QoQ Prelim Flash: 0.2% (Forecast 0.1%, Previous 0.8%)

Eurozone GDP: QoQ Initial Flash: 0.2% (est 0.1%, previous 0.8%) YTD: 2.1% (est 2.1%, previous .1%) Full Report Reuters Note – Estimates from the Statistical Office of the European Union estimates of domestic product Economists polled by Reuters had expected that in the 19-euro country it rose by 0.2% during the quarter, or 2.1% a year. That is 0.8 percent quarterly growth and .3 percent year-on-year growth in April-June, when the eurozone economy begins to feel the effects of sharp inflation, especially energy prices, after Russia’s invasion of Ukraine. resulting in rising interest rates and continued supply chain problems. Germany, Europe’s largest economy, bucked the broader trend and reported a slight pick-up in quarterly growth to 0.3 percent in the third quarter from 0.1 percent in the second quarter, although its economy continued to slow year-on-year.

Michael Cooper

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