RankingThe German economy, the largest in the euro area, expanded by 0.4 percent. Spain again recorded solid GDP growth of 0.7 percent. In Belgium, the economy improved by 0.5 percent. The Greek economy saw 0.3 percent growth. France and Italy both recorded a flat 0.0 percent. Slovakia showed a strong performance with + 0.9 percent.
Outside of the euro area, Romania showed an even better performance with +1.5 percent. Hungary and Poland recorded around 1 percent growth. The UK topped the EU average with 0.6 percent growth.
Compared to the same quarter in 2015, GDP across the euro area grew by 1.6 percent. The EU economies expanded by 1.8 percent relative to one year previously. In the US, economic growth slowed down to 1.2 percent. China’s economy hit 6.7 percent year-on-year growth, just as in the first quarter. The Russian economy contracted by 0.6 percent year-on-year, the smallest contraction in one and a half years.
GDPs in the euro area