GDP rises by 0.3% in the Eurozone in Q2 2018, inflation expected at 2.1% in July 2018, says Eurostat

Seasonally adjusted GDP rose by 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the second quarter of 2018, 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 2018, GDP had grown by 0.4% in both the euro area and the EU28. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.1% in the euro area and by 2.2% in the EU28 in the second quarter of 2018, after +2.5% and +2.4% respectively in the previous quarter.

Meanwhile Euro area annual inflation is expected to be 2.1% in July 2018, up from 2.0% in June, according to a flash estimate from Eurostat, the statistical office of the European Union. Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in July (9.4%, compared with 8.0% in June), followed by food, alcohol and tobacco (2.5%, compared with 2.7% in June), services (1.4%, compared with 1.3% in June) and non-energy industrial goods (0.5%, compared with 0.4% in June).

Finally, according to Eurostat, in the euro area, in real terms, household income per capita increased by 0.1% in the first quarter of 2018, after an increase of 0.3% in the previous quarter. Household real consumption per capita increased by 0.3% in the first quarter of 2018, after an increase of 0.1% in the fourth quarter of 2017.

In the EU28 household real income per capita decreased by 0.1% in the first quarter of 2018, after an increase of 0.6% in the previous quarter. Household real consumption per capita increased by 0.1% in the first quarter of 2018, after an increase of 0.2% in the fourth quarter of 2017.

Source: Cyprus News Agency