Luxembourg (dpa) – The Eurozone economy unexpectedly continued to grow in the spring. In the 20 countries of the currency area, economic output rose by 0.1 percent in the second quarter compared to the previous quarter, according to a preliminary estimate released by the statistical office Eurostat on Wednesday. Economists had anticipated stagnation on average. Earlier in the year, the Eurozone economy had expanded more robustly, recording a 0.6 percent growth.
In comparison to the same quarter last year, the Eurozone economy experienced a growth of 1.4 percent from April to June, exceeding analysts’ expectations. In the first quarter, the year-on-year growth was reported at 1.5 percent. Eurostat noted that the strongest quarterly economic growth was observed in Spain, with a 0.7 percent increase, followed closely by Portugal at 0.6 percent. Meanwhile, the German economy saw a slight decline, contracting by 0.1 percent. (July 30)
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