The Gross Domestic Product of the European Union and the Eurozone registered an increase of 0.6% in the second quarter of 2022 (Q2) compared to the previous three months, and the Netherlands and Romania had the most significant advance, according to preliminary data published on Wednesday by European Statistical Office Eurostat.

During the same period, the US Gross Domestic Product decreased by 0.2%. At an annual rate, the American economy grew by 1.6% in the period April-June 2022.

In the first quarter of 2022, compared to the previous three months, the Gross Domestic Product registered an increase of 0.5% in the euro zone and 0.6% in the EU, according to TVR.

Among the EU member states for which data are available, the most significant advance of the economy in the second quarter of 2022, compared to the previous three months, was recorded in the Netherlands (2.6%), Romania (2.1%), Sweden (1.4%), Spain, Hungary and Bulgaria (all with 1.1%). Decreases were recorded in Poland (minus 2.3%), Latvia (minus 1.4%), Lithuania (minus 0.4%) and Portugal (minus 0.2%).

Compared to the second quarter of last year, GDP increased by 3.9% in the euro area and by 4% in the European Union between April and June 2022, with all EU member states for which data are available reporting increases.

Romania registered an annual growth of 5.3% in the second quarter of 2022, after an annual advance of 6.4% in the first three months.

The National Institute of Statistics announced that Romania’s economy grew by 2.1% in the second quarter of the year, compared to the previous quarter, while compared to the similar period in 2021, the advance was 5.3%.