Greece records biggest GDP and employment growth rate in the Eurozone

Greece records biggest GDP and employment growth rate in the Eurozone

Greek GDP grew 0.8 pct in the second quarter of 2019 on a quarterly basis, recording one of the biggest GDP growth rates among the EU28 member-states, Eurostat said in a report.

Greek GDP grew 1.9 pct in the second quarter in comparison with the same period last year.

The EU executive’s statistics agency said that Greece and Cyprus recorded the biggest percentage increase in employment on a quarterly basis at 0.7 pct in the second quarter (or 2.0 pct compared with 2018 in Greece and 3.0 pct in Cyprus).

In total, seasonally-adjusted GDP grew 0.2 pct in the Eurozone and in the EU28 in the second quarter compared with the previous quarter, while compared with the same period last year, it rose 1.2 pct and 1.4 pct, respectively.

Hungary (1.1 pct), Romania (1.0 pct), Bulgaria, Denmark, Greece, Cyprus, Lithuania and Poland (0.7 pct each) recorded the biggest percentage GDP growth rates, while the UK (-0.2 pct), Germany and Sweden (-0.1 pct) recorded a decline.

The number of employed people grew 0.2 pct in the Eurozone and 0.3 pct in the EU28 in the second quarter compared with the previous quarter, while in comparison with the same period last year, it grew 1.2 pct and 1.0 pct, respectively.