Eurozone growth eases to 0.2 percent for second quarter amid weak performance in Germany
(MENAFN) On Friday, Eurostat released its final estimate for the eurozone's economic growth in the second quarter, showing a quarter-on-quarter increase of just 0.2 percent. This figure is lower than the previously projected 0.3 percent growth rate. The revision aligns with forecasts, who had anticipated a 0.2 percent growth rate based on preliminary data. In addition to the eurozone, the growth estimate for all 27 EU countries was also adjusted downward to 0.2 percent, matching the revised eurozone figure.
The reduction in growth estimates may raise concerns about the economic health of the region, particularly as Germany, the largest economy in the eurozone, has reported a surprising decline. Germany's GDP contracted by 0.1 percent in the second quarter, marking the weakest performance among eurozone countries and adding to the apprehensions about Europe's economic trajectory. The downward revision reflects broader challenges in the region and may influence economic and policy outlooks as the continent grapples with slowing growth.
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