Eurozone economic growth slows in 2Q
Eurostat’s data showed that GDP in the 19 euro user countries increased 0.3% on a quarterly basis between the April-June period, half of the 0.6% growth of the first quarter of the year. After the strong economic growth in the first three months of the year, a deceleration in economic growth was already expected for the next three months and this combined with the uncertainty before the Brexit referendum.
Meanwhile, Euro zone inflation increased unexpectedly 0.2% in July. The European Commission and the European Central Bank revised down their expectation for Euro zone GDP growth for both 2016 and 2017, after the Brexit referendum.
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