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GDP up by 0.3% in the euro area and stable in the EU

In the second quarter of 2023, seasonally adjusted GDP increased by 0.3% in the euro area and was stable in the EU, compared with the previous quarter, according to a preliminary flash estimate published by Eurostat, the statistical office of the European Union. In the first quarter of 2023, GDP had remained stable in the euro area and had increased by 0.2% in the EU.
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The European Union’s economic governance framework aims to detect, prevent, and correct problematic economic trends such as excessive government deficits or public debt levels, which can stunt growth and put economies at risk.

The euro is the single currency shared by 19 of the European Union's Member States, which together make up the euro area. In order to make euro stable and a strong currency, all 19 economies and government actions have to be coordinated as much as possible.

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