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Zero growth for French economy Eurozone economy grows by 0.3%
(35 minutes later)
France's economy did not grow at all between April and June, according to official estimates. The economies of the 19 countries that use the euro grew by 0.3% between April and June, according to official estimates.
The figure from Eurostat marks a slight slowdown from the 0.4% registered in the first quarter.
The statistics agency also announced that inflation in the eurozone was 0.2% in July, unchanged from June's figure.
Earlier, it was announced that France's economy did not grow at all between April and June.
But growth in the first three months of the year was revised up from 0.6% to 0.7%, the statistics office Insee said.But growth in the first three months of the year was revised up from 0.6% to 0.7%, the statistics office Insee said.
The German economy grew 0.4%, up from 0.3% in the first quarter. Italy's economy grew 0.2%, slowing from 0.3% the previous quarter.The German economy grew 0.4%, up from 0.3% in the first quarter. Italy's economy grew 0.2%, slowing from 0.3% the previous quarter.
Gross domestic product and inflation figures for the whole of the eurozone are due out later in the morning. Strong exports
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.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.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.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.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.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.