Economic growth in the euro area and the EU slowed in the second quarter

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Economic growth both in the European Union and in the euro area slowed down significantly in the second quarter. According to the data already available, Hungary achieved the strongest economic growth in both quarterly and annual terms for the three months ended June 30.

According to the second estimate released by the European Union Bureau of Statistics (Eurostat) on Wednesday, gross domestic product (GDP) in both blocks increased by 0.2 per cent in the April to June quarter-on-quarter period.
In the first quarter, the economy grew at a much stronger pace than in the previous three months, with 0.4 per cent in 19 euro area countries and 0.5 per cent in the 28 EU Member States.
On a year-on-year basis, seasonally adjusted GDP grew by 1.1 percent in the euro area and 1.3 percent in the EU in the second quarter of this year. It is also weaker than the 1.2 and 1.6 percent in the first quarter.
The data in the second estimate is entirely consistent with the first two weeks ago and is in line with analyst expectations.
Employment in both blocks grew by 0.2 per cent in April-June compared to the first quarter, with growth slowing by half from 0.4 per cent in the first quarter. Compared to the second quarter of last year, the euro area employed 1.1% and the EU 1.0%, both 0.2 percentage points lower than in the first quarter.
GDP statistics broken down by country are still incomplete, with no data yet from seven countries – Estonia, Ireland, Greece, Croatia, Luxembourg, Malta and Slovenia.
Quarterly, Hungary’s economy grew at its strongest rate of 1.1 percent. Romania comes in second with 1.0 percent, followed by Lithuania and Finland with 0.9 percent each. Decreases were recorded in Germany (0.1 percent), Sweden (0.1 percent) and Great Britain (0.2 percent), while Italy’s economy stagnated.
Hungary tops the list with annual GDP growth of 5.1 percent, followed by Romania with 4.6 percent and Poland with 4.1 percent. Of the largest eurozone economies, Germany grew 0.4 percent, France 1.3 percent, Spain 2.3 percent, Italy stagnated.

Record market capitalization of the 100 largest companies in the world The market capitalization of hundreds of the world’s leading listed companies rose to a record $ 21,000 billion, according to PwC’s Global Top 100 Survey.     In the one-year period from April last year, the market capitalization of one hundred leading companies increased by 5 per cent, slowing down from the 10 per cent growth one year earlier.     Technology and online commerce companies continue to dominate the narrow list, with seven companies in the top ten: US, Microsoft, Apple, Amazon, Alphabet and Facebook, plus two Chinese, Alibaba and Tencent .     For the fifth year in a row, 54 percent of the 100 largest companies in the US have increased their market capitalization by over 9 percent in one year.     China ranks second in the Global Top 100 despite Asian companies’ market capitalization declining by 4 percent over the past 12 months.     One year ago, Chinese companies increased their market capitalization by 57 percent. Then three new Chinese companies were placed in the Top 100 and two in the Top 10.     According to the latest PwC list, European companies’ market capitalization fell by 5 percent in one year and three companies fell out of the 100 list.      Microsoft tops the latest hundred list, after being third last year, and its market capitalization increased by $ 202 billion to $ 905 billion in one year.     Last year, Apple topped second place, with $ 45 billion in market capitalization and $ 896 billion in market capitalization.     In the top ten, four other companies are American, Amazon, Alphabet, Berkshire Hathaway and Facebook.     Chinese companies rank seventh and eighth in the list: Alibaba retained its seventh position, while Tencent slipped from last year’s fifth to eighth.     The top two places in the top ten are American companies again: ninth is Johnson & Johnson and tenth is Exxon Mobil.

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