Euro-zone GDP & Compensation Per Employee (Q2 2026)

7th September 2026

The upward revision to euro-zone GDP growth in Q2, taking it to a four-year high of +0.6% q/q, was due to another massive revision in Ireland. This tells us nothing about the underlying health of the economy. Excluding Ireland, GDP rose by 0.3% q/q and we are forecasting a similar expansion in Q3. Meanwhile, domestic price pressures are much more muted than when the 2022 energy shock began.

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