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Eurozone economy grows by 0.3% | |
(35 minutes later) | |
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. |
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. |