Growth in the eurozone as a whole flatlined in the second quarter, according to official estimates released on Thursday.
The eurozone saw 0.0% growth compared with the first quarter, according to Eurostat figures.
The economic bloc’s two largest economies, France and Germany, both performed worse than expected.
Germany’s Federal Statistics Office said the economy was “losing momentum”.
And official figures show the French economy saw no growth in the quarter.
Italy, the eurozone’s third largest economy, fell back into recession.
However, Portugal jumped from a 0.6% contraction in the first quarter to a 0.6% expansion in the second.
And Spain continued to recover, with 0.6% growth.
Meanwhile, annual inflation in the eurozone fell to 0.4% in July, its lowest rate since 2009.
via BBC
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.