Eurozone Grows 0% in Second Quarter

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

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza