The eurozone economy grew by 3.9% in the second quarter of 2022 compared to the same period last year, with Portugal registering the second highest year-on-year growth among Member States, with 6.9%, Eurostat reveals this Wednesday.
Preliminary data from the official statistics office of the European Union (EU) reveal that, in the year-on-year comparison, with the second quarter of 2021, the Gross Domestic Product (GDP) grew 3.9% in the single currency space and 4% in the whole of the EUafter having grown by 5.4% and 5.5% in the first quarter, respectively
In the chain comparison, with the previous quarter —January to March 2022—, the eurozone economy grew, between April and June, by 0.6% both in the eurozone and in the EUin line with the growth registered in the first quarter of the year compared to the last quarter of 2021 (0.5% in the eurozone and 0.6% for the 27 Member States).
The data published this Wednesday reveal that, in homologous terms, the Portuguese economy registered the second highest growth among the 21 member states for which data is available, with an increase of 6.9% (only behind Slovenia, with 8.3%), this after the first quarter had the highest year-on-year rise in GDP, compared to the first quarter of 2021 (11.9%).
Compared to the first quarter of 2022, Portugal was one of the four Member States that recorded a drop in GDP, albeit marginal, of -0.2%. Poland (-2.3%), Latvia (-1.4%) and Lithuania (-0.4%) were the other three countries with the steepest falls.
Eurostat also includes data on the worked in the bulletin, but without providing specific figures per Member State, revealing that this indicator rose 2.4% in the eurozone and 2.3% in the EUin year-on-year terms, slightly below the growth registered in the first quarter (2.9% and 2.8%, respectively).
In the chain comparison, employment increased by just 0.3%, both within the single currency and in the EU as a whole, after increases of 0.6% and 0.5%, respectively, in the previous quarter.
Source: Observadora
