The Math of GDP Growth in the Euro Area Explained in Bars: Chart

Private consumption has been the main driver of economic growth in the euro area, with net trade acting as a drag in each of the past three quarters for which a breakdown is available. Eurostat reported on July 29 that the 19-nation economy expanded 0.3 percent in the three months through June, half the rate recorded in the prior period. The statistics office is set to publish an updated estimate for second-quarter gross domestic product at 11 a.m. in Luxembourg.

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