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Eurozone Q2 economic growth revised upward to 0.4%

by ChemOrbis Editorial Team -
  • 08/09/2015 (13:53)
According to media reports, the European Union’s official statistics agency, Eurostat, upgraded its estimates for eurozone economic growth in the second quarter. According to Eurostat, gross domestic product (GDP) in the eurozone rose by 0.4% on a quarterly basis in the April-June period, up from its previously estimated growth rate of 0.3%. The acceleration in the growth estimate was attributed to higher exports, which offset weaker household consumption and investment spending. As a result of the agency’s recent revisions, on a yearly basis the region’s GDP grew 1.5% in the second quarter, up from the previous estimate of 1.2%.

The agency also revised up its growth forecast for the first quarter of this year to 0.5% from an initially estimated growth rate of 0.4%.
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