The economy
of the Eurozone has grown by 0.3% between April and June.
According
to the first estimate from Eurostat, that marks a slight slowdown compared to
the 0.4% growth registered during the first quarter.
The
inflation in the Eurozone was still 0.2% in July, the same as it was in June.
Earlier, it was announced that France's economy did not grow at all between
April and June.But growth in the first three months of the year was revised up from 0.6% to 0.7%, the statistics office Insee said.
The German economy grew 0.4%, up from 0.3% in the first quarter. Italy's economy grew 0.2%, slowing from 0.3% the previous quarter.
In the wider 28-member EU, GDP grew 0.4%, which was unchanged from the previous quarter, while inflation was 0.1% in July, unchanged from June.
Eleven member states reported deflation in the month, with Cyprus recording the biggest drop at -2.4%. Malta reported the most inflation at 1.2%.
French finance minister Michel Sapin said his country's economy was still on track to reach the government's forecast of 1% growth for the year.
He highlighted strong exports, which grew 1.7% in the quarter, having grown 1.3% in the previous quarter.
Growth in consumption by households slowed sharply from 0.9% to 0.1%, while production of goods and services contracted slightly.
Exports also grew strongly in Germany, helped by the weaker euro.
Finland's economy recorded a second quarter of contraction, down 0.4% havingrecorded negative growth of 0.1% in the first quarter.
Very useful information, thank you.
ReplyDeleteGreat assessment.
ReplyDeleteHelpful information, thanks.
ReplyDeleteVery good news. Thank you.
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