Brussels - (AFP) - Economic growth in the eurozone increased by 0.6 percent in the second quarter of the year compared to the first quarter, while employment witnessed slow progress over the same period, up 0.3 percent, according to a review of figures published by Eurostat (Directorate European Commission General Data) Wed.

In a preliminary report published at the end of July, Eurostat estimated the growth in GDP of the 19 countries that share the single currency at 0.7 percent, a significant improvement after growth of 0.5 percent in the first quarter of the year.

On an annual basis, this means a growth of 3.9 percent in the April-June period compared to the same period in 2021 (and 5.4 percent in the first quarter).

With this performance, the eurozone is ahead of the United States, which saw its GDP contract in the second quarter by 0.9 percent annually, after recording a sharp decline of 1.6 percent in the first quarter.

Despite the increase in the rate of inflation due to the war in Ukraine and contrary to the concerns of economists, the euro area benefited from the continuation of sustainable activity thanks to the recovery of the services sector in particular, especially tourism, after the lifting of restrictions related to the epidemic.

But within the European bloc, growth remains uneven, with strong growth recorded by Spain (1.1 percent quarterly), Italy (1 percent) and France (0.5 percent), while Germany, the first economy in Europe (0 percent), according to updated Eurostat figures.
At the same time, employment progressed slowly: the number of people with a job increased by 0.3 percent in the eurozone in the second quarter compared to the first quarter of the year, after a 0.6 percent increase between January and March. March. This represents an increase of 2.4 percent over the year, after a 2.9 percent increase in the first quarter.
Economic growth reached 0.6 percent in the European Union as a whole in the second quarter, i.e. at the same level for the first three months of the year, indicating stability in economic activity.