Eurozone Preliminary GDP grows 0.3% QoQ in Q2 vs. 0.3% expected
|The Eurozone economy expanded by 0.3% on a quarterly basis in the three months to June of 2023, matching the 0.3% estimates and growing at the same pace seen in the first quarter of 2023, the preliminary release published by Eurostat showed on Wednesday.
The bloc’s GDP rate grew by an annual rate of 0.6% in Q2 vs. 0.6% recorded in Q1 while meeting 0.6% expectations.
Meanwhile, the second quarter Preliminary Employment Change data for the old continent came in at 0.2% and 1.5% on a quarterly and yearly basis respectively.
Market reaction
EUR/USD was last seen trading at 1.0928, up 0.21% on the day. Eurozone GDP data matched expectations and failed to move the needle around the Euro.
About Eurozone Preliminary GDP
The Gross Domestic Product released by Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone's economic activity and health. Usually, a rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.