עוראָזאָנע ביץ גדפּ עסטאַמאַץ אָבער זייַן גרעסטער עקאנאמיע דייַטשלאַנד ריפּאָרץ 0% גראָוט

טאָפּלינע

The eurozone’s second quarter GDP growth beat analyst estimates but Germany—the region’s largest economy—stagnated, highlighting uneven growth in the region which continues to face record inflation and uncertainty around energy supplies amid Russia’s war in Ukraine.

שליסל Facts

לויט דאַטן ארויס by the EU’s statistical office Eurostat, GDP in the 19 nations using the euro grew 0.7% comfortably beating out analyst estimates of 0.2% growth.

Spain and Italy recorded strong growth numbers of 1.1% and 1% respectively, aided by the return of tourists to the country during the summer after the end of Covid lockdowns, Bloomberg געמאלדן.

France, whose economy contracted 0.2% in the first quarter, also beat estimates ריפּאָרטינג 0.5% growth in Q2.

The Eurozone’s largest economy remained a major outlier, however, ריפּאָרטינג 0% GDP growth as its industry continues to face the threat of a potential gas cut off by Russia during the critical winter months.

Austria reported GDP growth of 0.5% for the quarter while Portugal’s economy shrank by 0.2% during the same period.

Big Number

8.9%. That is the Eurozone’s rate of annual inflation for the month of July 2022, Eurostat געמאלדן on Friday. This is an all time record high for the region, up from the previous record of 8.6% reported last month. Energy inflation for the month stood at 39.7%, as the region faced a squeeze in the supply of energy from Russia as it retaliates against the bloc’s sanctions following its invasion of Ukraine.

קריטיש ציטירן

דייטשלאנד אַטריביאַטאַד its zero growth to challenges to the global economy, “ האט: including the Covid-19 pandemic, interruptions in supply chains and the war in Ukraine.”

טאַנגענט

די יו. עס. עקאנאמיע געמאלדן worse than expected numbers for the second quarter on Thursday, further raising fears of an incoming recession. According to data released by the Bureau of Economic Analysis the U.S. GDP shrank by 0.9% in the quarter which ended in June.

שליסל הינטערגרונט

Despite unexpectedly positive numbers, the region continues to face a threat of recession as it braces for a possible shutdown of natural gas supply from Russia. Supply of Russian natural gas—which is critical for German industry and an essential means of electricity generation in several EU nations—through the key Nord Stream 1 pipeline slowed to 20% of its overall capacity earlier this week as Russian officials blamed equipment problems. Prior to that, members of the European Union מסכים to cut their usage of gas by as much as 15% until March 2023, to help tide over the current supply crunch. Last month, Germany’s economy minister Robert Habeck געווארנט that Russia’s throttling of supplies could trigger a Lehman Brothers-style collapse of the continent’s energy sector.

ווייַטער רידינג

‘Recession is in the air’: German economy stagnates in 2nd quarter (רעוטערס)

Euro Zone Smashes Estimates Despite Weak Germany, High Inflation (בלומבערג)