Eurozone GDP grows by 0.4% quarter-on-quarter in Q2, marking the strongest growth in over a year, with Spain leading among major economies

① The eurozone's economy grew by 0.4% quarter-on-quarter in Q2, marking a significant acceleration compared to the flat growth in the previous quarter and exceeding the market expectation of 0.2%. This is the strongest quarterly expansion since Q1 2025. Robust AI-related investment, steady government spending, and one-off factors helped offset the impacts of the Middle East conflict and rising energy costs. ② Among major economies, Spain once again led the way, with GDP growing by 0.7% (previous: 0.6%), surpassing expectations; the Netherlands grew by 0.4%, double the expected rate; France shifted from a contraction of 0.1% to growth of 0.2%; Germany and Italy both grew by 0.2%, slightly slowing from the previous quarter but still exceeding market forecasts.