The EU’s GDP grew by 0.2% q/q in Q2

The seasonally adjusted GDP of the European Union in April-June 2025 grew by 0.2% compared to the previous quarter. In the first quarter, the indicator showed a 0.5% q/q increase. This is evidenced by preliminary data from Eurostat.

Compared to the same quarter of 2024, seasonally adjusted EU GDP grew by 1.5% in the second quarter after +1.6% year-on-year in the first quarter.

Experts expected, on average, that GDP in April-June would remain unchanged on a quarterly basis and increase by 1.2% on an annual basis, according to Trading Economics.

Among the bloc’s member states, Spain (+0.7%) recorded the highest growth on a quarterly basis. It is followed by Portugal (+0.6% q/q) and Estonia (+0.5% q/q). A decline was recorded in Ireland (-1.0% q/q), Germany, and Italy (both -0.1% q/q). Annual growth rates were positive for all countries.

Inflation in the eurozone in June 2025 rose by 2% compared to the same month in 2024. Thus, the indicator accelerated its growth rate after +1.9% in May.

As GMK Center reported earlier, the European Central Bank continues to pursue a policy of monetary stimulus. In June, the ECB lowered interest rates for the eighth time this year. The deposit rate will be 2% from June 11, the main refinancing rate will be 2.15%, and the marginal lending rate will be 2.4%.

According to Eurostat estimates, the EU’s GDP grew by 1% in 2024 compared to 2023. In the eurozone, this figure increased by 0.9% year-on-year. In the fourth quarter, seasonally adjusted EU GDP grew by 0.4% compared to the previous quarter and by 1.4% compared to the same period in 2023. In the eurozone, the indicator grew by 0.2% quarter-on-quarter and by 1.2% year-on-year.