GDP in the second quarter of this year grew by only 0.15 in 3 months; for the year the indicator grew by 1.8%.
In the previous quarter, GDP grew by 0.2% and 4%, respectively.
The reason for this is all the same energy resources and other rising prices of raw materials. While state-owned companies can fill their gas storages even at such high prices, small and medium-sized businesses are losing their profitability.
The ECB will meet in 2 weeks, where investors and traders expect a second, possibly more serious, rate hike.
"We can no longer rely solely on the forecasts provided by our models - they have had to be revised upward several times over the past two years," ECB Chief Christine Lagarde.
A sharp increase in the ECB rate can cause panic among investors, because in another 2 weeks we are waiting for the Fed rate hike, which has recently been growing much faster than the European.
