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News : EU Economy Last Updated: Aug 14, 2015 - 1:57 PM


Euro Area GDP grows at weak 0.3% in Q2 2015
By Michael Hennigan, Finfacts editor
Aug 14, 2015 - 10:22 AM

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The Euro Area economy grew a weak 0.3% in the second quarter, Eurostat, the European Union's statistics office, reported in its first estimate published on Friday.

Eurostat said gross domestic product (GDP) in the 19-country single currency area grew by 0.3% quarter-on-quarter in the April-June period, resulting in a 1.2% year-on-year rise.

Germany grew at 0.4%, France stagnated, Italy added 0.2%, Spain expanded 1.0% and the Netherlands inched up by 0.1% as did Austria while Finland contracted by 0.4%.

Ireland provided no data.

Greece on Thursday reported a surprise rise of 0.8% in a quarter of tumult and the estimate could be revised down.

Seasonally adjusted GDP rose by 0.4% in the in the EU28, compared with the previous quarter.

In the first quarter of 2015, GDP grew by 0.4% in both areas. Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.2% in the Euro Area and by 1.6% in the EU28 in the second quarter of 2015, after +1.0% and +1.5% respectively in the previous quarter.

During the second quarter of 2015, GDP in the United States increased by 0.6% compared with the previous quarter (after +0.2% in the first quarter of 2015). Compared with the same quarter of the previous year, GDP grew by 2.3% (after +2.9% in the previous quarter).

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