According to the latest data released by Eurostat, the Eurozone economy showed signs of recovery in the second quarter of 2023. According to the Gross Domestic Product (GDP) data, it grew by 0.3 percent in the April-June period, compared to the flat growth seen in the first quarter of 2023.
On an annual basis, the Eurozone economy grew by 0.6 percent. This situation was evaluated as a positive acceleration compared to previous periods.
Second-quarter GDP data offered a small but positive sign of recovery, particularly from the stagnant economic performance in the winter half. Despite the weak growth outlook, especially in the major economies of the Eurozone, in June, the Eurozone’s industryproduction increased unexpectedly.
According to the data provided by Eurostat, total production increased by 0.5 percent in June compared to the previous month. This increase is in line with expectations that economists surveyed by the Wall Street Journal expected a 0.6 percent drop. wasted.
Compared to the same period last year, production decreased by 1.2 percent in June. This figure fell short of forecasts by leading economists, who had expected a 4.2 percent decline.
May production data was also updated and the increase rate was revised as 0.2 percent, the previous rate was reported as 0.0 percent.
