From April to June, Eurozone GDP = gross domestic product grew 0.7% due to the deregulation of the new coronavirus.
However, there are many cautious views on the future of the European economy in the market, such as Germany, which has the largest economy, has reached zero growth.
The EU-European Union Statistics Bureau announced on the 29th that the growth rate of GDP from April to last month in 19 euro area countries such as Germany and France increased by 0.7% compared to the previous three months. did.
This is the fifth consecutive quarter of positive growth, with growth rates up 0.2 points from the previous quarter.
This is because economic activity resumed in earnest due to deregulation of the new coronavirus, and the tourism industry picked up especially in Southern Europe. Looking at the growth rate of GDP announced by each country, France is 0.5% and Italy is Just 1%, Spain 1.1%, and so on.
However, in Germany, which has the largest economic scale and drives the euro area, soaring energy prices such as natural gas have hindered economic activity, and GDP has fallen to 0%.
In the euro area, the consumer price index this month reached a record high of 8.9%, and record inflation has not stopped, placing a heavy burden on personal consumption and corporate activities, and the European economy slows down. There are many views that is inevitable.
Eurozone consumer price index growth rate of 8.9% in July, the highest ever
This month's Eurozone consumer price index, released by the EU-European Union on the 29th, rose 8.9% compared to the same month of the previous year, the highest growth rate since 1997, dating back to statistics. ..
Growth is accelerating in a wide range of items, with energy prices rising sharply to 39.7% and food products rising to 9.8% against the backdrop of Russia's invasion of Ukraine.
By country, Germany was 8.5%, France was 6.8%, and Spain was 10.8%, all of which increased from the previous month.
The Eurozone consumer price index has exceeded the European central bank's target of 2% for the 13th consecutive month since July last year, and unstoppable inflation has become a major burden on households and business activities.
The Central Bank of Europe has lifted interest rates for the first time in 11 years this month and lifted the negative interest rate, but has indicated that it will raise interest rates further in September.