Research Detail
| 2024/08/02 / Erste Group Research |
EZ economic data remains subdued According to a flash estimate by Eurostat, Eurozone GDP grew by +0.3% q/q in 2Q24, maintaining the growth momentum of the first quarter. On an annualized basis, GDP in the Eurozone grew by +0.6%. The diverging growth in the largest European economies is striking. Spain's economy grew by +0.8% q/q, while Germany's GDP shrank by -0.1% q/q. France and Italy remained in the range of +0.2% to 0.3% q/q growth. According to a flash estimate by the Austrian Institute of Economic Research (WIFO), Austrian GDP stagnated in 2Q24 both year-on-year (+0.0%) and compared to 1Q (+0.0%). Investments almost stagnated (+0.1% q/q) after falling sharply in the previous quarter (-2.1% q/q). Government consumption rose sharply by +1.4% q/q, while private consumption contracted (-0.5% q/q). |
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General information
| Author | Erste Group Research |
| Date | 2024/08/02 |
| Language |  |
| Product name | Week ahead |
| Topic in focus | Macro/ Fixed income |
| Economy in focus | Eurozone, United States |
| Currency in focus | Euro, US Dollar |
| Sector in focus | - |
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