Ekip
07 September 2017•Update: 07 September 2017
ANKARA
The Eurozone -- the 19 EU members using the single currency -- on Thursday said the seasonally-adjusted GDP growth-increase rate across the bloc rose 0.6 percent quarter-on-quarter in Q2 2017.
The same rate of increase across the EU's entire 28-member region was 0.7 percent, according to data released by Eurostat.
This means the Eurozone saw 2.3 percent growth in Q2 2017 while the EU28 saw 2.4 percent compared to the same period of last year.
It is the second consecutive quarter-on-quarter increase in GDP growth, with the rate for both regions recorded at 0.5 percent in Q1 2017.
The Czech Republic, Sweden, Romania and the Netherlands saw the highest rates of growth, of +2.5 percent, +1.7 percent, +1.6 percent and +1.5 percent, respectively.
Portugal and the U.K. -- currently embroiled in Brexit negotiations -- saw the lowest rates of GDP growth.
The European Central Bank (ECB) proceeded to revise the annual GDP forecast for 2017 to 2.2 percent, the highest rate since 2007.
President of the ECB, Mario Draghi, said in a news conference that the revision was a reflection of "the recent stronger growth momentum".
The ECB's projections remained unchanged for 2018 and 2019, at 1.8 percent and 1.7 percent respectively.
