GDP up 0.6% in euro area, EU

Seasonally adjusted GDP rose by 0.6 percent in both the euro area EA19, and EU28, during the second quarter of 2017, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union.

In the first quarter of 2017, GDP rose by 0.5 percent in both zones. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.1 percent in the euro area and 2.2 percent in the EU28 in the second quarter of 2017, after increases of 1.9 percent and 2.1 percent in the previous quarter.

Euro area annual inflation was expected to reach 1.3 percent in July 2017, which would be stable compared with June 2017, according to a flash estimate from Eurostat.

Looking at the main components of the euro area inflation, energy is expected to have the highest annual rate in July (2.2 percent, compared with 1.9 percent in June), followed by services (1.5 percent, compared with 1.6 percent in June), food, alcohol and tobacco (1.4 percent, stable compared with June) and non-energy industrial goods (0.5 percent, compared with 0.4 percent in June).

source:wam