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Eurozone economic growth slows in Q2

by ChemOrbis Editorial Team -
  • 17/08/2015 (12:14)
According to a data from the statistical office of the European Union (Eurostat), the eurozone economy grew 0.3% on a seasonally adjusted basis in the second quarter after expanding 0.4% in the previous quarter. On a yearly basis, meanwhile, the region’s gross domestic product (GDP) increased 1.2% in the three months ending June.

The deceleration in the economy was attributed to a downturn in France’s economy, which showed a flat growth rate following a growth rate of 0.7% in the previous quarter. France’s Q2 economic growth also missed analysts’ initial forecast of 0.2% growth.

Meanwhile, in the second quarter, Italy’s seasonally and calendar adjusted GDP expanded 0.2% from the previous quarter, slightly slower than the 0.3% growth in the first quarter, according to a preliminary estimate by Italy’s national statistics institute Istat. However, the German economy grew 0.4% in the second three months after expanding 0.3% in the first quarter of 2015. Economists’ initial estimates called for a 0.5% rate of growth in a survey conducted by Bloomberg.
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