Eurozone second-quarter economic growth revised down

Eurozone second-quarter economic growth revised down

The 20-country single currency zone's recorded economic growth of 0.2 percent between April and June from the previous quarter
The 20-country single currency zone's recorded economic growth of 0.2 percent between April and June from the previous quarter. Photo: Kirill KUDRYAVTSEV / AFP/File
Source: AFP

The eurozone economy's growth in the second quarter this year was slightly smaller than previously estimated after the EU's statistics agency on Friday revised its data.

The 20-country single currency zone's recorded economic growth of 0.2 percent between April and June from the previous quarter, down from the 0.3 percent estimate in July.

Eurostat also revised its figure for the 27-country European Union's economy, which expanded by 0.2 percent, slightly lower than the previous estimate of 0.3 percent.

Analysts surveyed by FactSet and Bloomberg had forecast the eurozone economy to grow by 0.2 percent before the first estimate was published in July.

The revisions will likely add to concerns about the eurozone, especially over Germany, Europe's largest economy, which is weighing on the area's performance.

Germany's output contracted by 0.1 percent in the second quarter, official data showed.

PAY ATTENTION: Share your outstanding story with our editors! Please reach us through info@corp.legit.ng!

Source: AFP

Authors:
AFP avatar

AFP AFP text, photo, graphic, audio or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. AFP news material may not be stored in whole or in part in a computer or otherwise except for personal and non-commercial use. AFP will not be held liable for any delays, inaccuracies, errors or omissions in any AFP news material or in transmission or delivery of all or any part thereof or for any damages whatsoever. As a newswire service, AFP does not obtain releases from subjects, individuals, groups or entities contained in its photographs, videos, graphics or quoted in its texts. Further, no clearance is obtained from the owners of any trademarks or copyrighted materials whose marks and materials are included in AFP material. Therefore you will be solely responsible for obtaining any and all necessary releases from whatever individuals and/or entities necessary for any uses of AFP material.