Europe halved its employment and GDP growth in the second quarter 2019

The Nomad Today

15 de August de 2019 (13:04 h.)

GDP and employment both rose by 0.2% in the euro area during the second quarter of 2019, just half that of the previous quarter.

Seasonally adjusted Gross Domestic Product (GDP) rose by 0.2% in both the euro area (EA19) and in the whole European Union (EU28) during the second quarter of 2019, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union.

In the first quarter of 2019, GDP had grown by 0.4% in the euro area and by 0.5% in the EU28. This means the growth achieved in the second quarter is just half of that of the previous quarter. And the same happened with employment figures.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.1% in the euro area and by 1.3% in the EU28 in the second quarter of 2019, after +1.2% and +1.6% respectively in the previous quarter.

During the second quarter of 2019, GDP in the United States increased by 0.5% compared with the previous quarter (after +0.8% in the first quarter of 2019). Compared with the same quarter of the previous year, GDP grew by 2.3% (after +2.7% in the previous quarter).

Employment

Graphic source: Eurostat

The number of employed persons increased by 0.2% in both the euro area and the EU28 in the second quarter of 2019, compared with the previous quarter. In the first quarter of 2019, employment had grown by 0.4% in both the euro area and the EU28.

Compared with the same quarter of the previous year, employment increased by 1.1% in the euro area and by 1.0% in the EU28 in the second quarter of 2019, after +1.3% and +1.2% respectively in the first quarter of 2019. These data provide a picture of labour input consistent with the output and income measure of national accounts, says Eurostat.