Forex News

Euro area confirms slowdown to 0.2% in Q2

Euro area confirms slowdown in Q2

Eurostat data released on Wednesday confirmed a slowdown in the euro area economy, the flash GDP reading showed.

The 19-nation region grew 0.2 percent in the April-June quarter, similar to both initial and predicted readings, slowing from 0.4 percent in the first three months this year.

The German economy shrank 0.1 percent in the second quarter, where the economy only expanded by 0.4 percent over the last 12 months, which is the weakest performance in several years.

The wider EU economy also witnessed a slowdown to 0.2 percent in the second quarter, down from 0.5 percent in the first one.

As of 09:54 GMT, the euro traded slightly higher at $1.1180, following a 0.36 percent decline on Tuesday.

Share Article