Eurozone second-quarter GDP revised higher
Growth in the Eurozone in the second quarter was stronger than originally estimated, according to figures released by Eurostat.
Gross domestic product rose 0.4% from the first quarter, up from an initial estimate of 0.3% as a slowdown in household consumption and a drop in investment spending was offset by stronger exports.
On the year, GDP was 1.5% higher, up from a previous estimate of 1.2%.
“The slow pace of EU growth may be a concern to ECB president Mario Draghi, but he will be pleased by the upward trends, which will demonstrate an element of robustness amid Chinese uncertainty,” said Dennis de Jong, managing director at UFX.com.