The economy in the EU continued to grow.
(Photo: dpa)
Brussels, Berlin Despite record inflation and the Ukraine war, the economy in the euro zone grew more significantly than expected in the spring. Between April and June, the gross domestic product (GDP) increased by 0.7 percent compared to the previous quarter, as the European statistical office Eurostat announced on Friday.
Economists, on the other hand, had only expected an increase of 0.2 percent for the second quarter. At the beginning of the year, there was only a plus in GDP of 0.5 percent.
Compared to the same period of the previous year, economic output rose by 4.0 percent in the spring. The economy in the euro area is burdened by high inflation, which is further fueled by the Ukraine war and is clouding the business climate.
The EU Commission only expects GDP growth of 2.6 percent this year. EU Commissioner Paolo Gentiloni recently warned that if Russia shuts off the gas supply to the EU completely, there is a risk of a recession in the second half of 2022.
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More: Italy and France record economic growth