August 23, 2022
In the EU, GDP up by 0.6% and employment up by 0.3%
GDP growth in the Euro Area and EU
In Q2 2022, seasonally adjusted GDP grew by 0.6% relative to the previous quarter in both the Euro area and in the European Union according to data provided by Eurostat, the statistical office of the European Union. Q1 2022 growth was recorded at 0.5% in the Euro area and by 0.6% in the European Union.
Relative to Q2 2021, seasonally adjusted GDP grew by 3.9% in the Euro area and 4.0% in the EU, this after a 5.4% and 5.5% increase in the Euro area and EU respectively in the previous quarter of 2021.
Q2 2022 GDP in the United States decreased by 0.2% relative to the previous quarter (after a 0.4% decline in the first quarter of 2022). Compared to Q2 2021, GDP increased by 1.6% (after a 3.5% increase in the previous quarter).
Employment growth in the Euro area and EU
In Q2 2022 the number of persons employed in both the Euro Area and EU increased by 0.3% relative to Q1 2022. In the first quarter of 2022 employment had increased by 0.6% in the Euro area and by 0.5% in the EU.
Compared to Q2 2021, employment increased 2.4% in the Euro area and by 2.3% in the EU in the second quarter of 2022, after a 2.9% increase in the Euro area and 2.8% increase in the first quarter of 2022.
These data provide a picture of labour input consistent with the output and income measures of national accounts.
Geographical Information
Euro area (EA19): Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
European Union (EU27): Belgium, Bulgaria, Czechia, Denmark, Germany, Estonia, Ireland, Greece, Spain, France, Croatia, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Hungary, Malta, the Netherlands, Austria, Poland, Portugal, Romania, Slovenia, Slovakia, Finland and Sweden.
Disclaimer:
Analyst Certification -The views expressed in this research report accurately reflect the personal views of Mayberry Investments Limited Research Department about those issuer (s) or securities as at the date of this report. Each research analyst (s) also certify that no part of their compensation was, is, or will be, directly or indirectly, related to the specific recommendation(s) or view (s) expressed by that research analyst in this research report.
Company Disclosure -The information contained herein has been obtained from sources believed to be reliable, however its accuracy and completeness cannot be guaranteed. You are hereby notified that any disclosure, copying, distribution or taking any action in reliance on the contents of this information is strictly prohibited and may be unlawful. Mayberry may affect transactions or have positions in securities mentioned herein. In addition, employees of Mayberry may have positions and effect transactions in the securities mentioned herein.
