Economic activities in the European Union slowed on an annual basis in the second quarter of this year, and the decline was somewhat more pronounced in the 19-member Eurozone, preliminary estimates from Eurostat showed on Tuesday.
Seasonally adjusted gross domestic product (GDP) in the 28-member EU increased by 2.2 percent in the second quarter of 2018 compared to the same period last year, the European statistical office reported.
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This marks a slowdown in annual growth, as it was 2.4 percent in the first quarter, the Eurostat report indicated.
In the 19-member Eurozone, GDP growth on an annual basis also slowed to 2.1 percent, down from 2.5 percent in the first quarter.
On a quarterly basis, economic activity growth in the EU in the second quarter was 0.4 percent, the same as in the previous quarter. In the Eurozone, the growth rate was 0.3 percent, down from 0.4 percent in the first three months of 2018 compared to the previous quarter, the latest Eurostat report showed.
