Eurozone Preliminary GDP expands 0.7% QoQ in Q2, a positive surprise

The Eurozone economy expanded by 0.7% on the quarter in the three months to June of 2022, beating 0.2% expected and 0.6% previous, the preliminary release showed on Friday. 

On an annualized basis, the bloc’s GDP rate rose by 4.0% in Q2 vs. 5.4% booked in the first quarter of 2021 while surpassing 3.4% expectations.

more to come ....

About Eurozone Preliminary GDP

The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone's economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).