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Zero growth for French economy | Zero growth for French economy |
(34 minutes later) | |
France's economy did not grow at all between April and June, according to official estimates. | France's economy did not grow at all between April and June, according to official estimates. |
But growth in the first three months of the year was revised upwards from 0.6% to 0.7%, the statistics office Insee said. | |
The German economy grew 0.4% in the second quarter, up from 0.3% in the first quarter. | |
Gross domestic product and inflation figures from across the eurozone are due out later in the morning. | |
French finance minister Michel Sapin said the 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. | 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% having recorded negative growth of 0.1% in the first quarter. | |
On Thursday, preliminary figures from Greece suggested its economy grew a considerably better-than-expected 0.8% in the second quarter, while the first quarter's figure was revised from a 0.2% contraction to zero growth. |