Disappointing productivity data in the euro area has complicated the interest rate path of the European Central Bank.
Eurozone labor productivity in Q2 was lower than expected; economists are discussing potential driving factors for further interest rate cuts.
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Eurozone's Quarterly GDP Growth Remains at 0.3% in Q2, Second Estimate Shows
The second quarter GDP of the euro area confirmed an increase of 0.3% quarter-on-quarter, in line with expectations.
Eurostat announced that the seasonally adjusted GDP of the eurozone in the second quarter was confirmed to have risen by 0.3% quarterly, consistent with market expectations and up from 0.3% in the previous quarter. On an annual basis, it was confirmed to have risen by 0.6%, consistent with market expectations and up from 0.5% in the previous quarter.