Eurozone Q2 GDP Revised Up to 1.2% Year-on-Year, Driven by Accelerated Household Consumption and Investment

(1) The eurozone's GDP growth for the second quarter was revised up to 1.2% year-on-year, above the initial estimate of 1%, and double the first quarter's 0.6% growth rate. (2) Household spending growth accelerated from 1.0% to 1.2%, fixed capital formation growth surged from 0.3% to 1.4%, exports turned from a 0.1% decline to a 3.9% increase, imports growth also accelerated from 1.9% to 3.6%, while government spending growth slowed from 2.3% to 1.9%. (3) Among major economies, Germany's GDP growth accelerated from 0.7% to 1.0%, Italy's from 0.8% to 1.0%, France slowed from 0.7% to 0.5%, and Spain remained stable at 2.7%.