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Tuesday 20th March 2018

Eurozone Economy Slows in Q2: Official Data

Business

7Dnews London

Wed, 14 Aug 2019 13:18 GMT

Eurozone economic growth slowed to 0.2% in the second quarter of 2019, after expanding 0.4% in the first, official data showed Wednesday, August 14th, as economies across the bloc lost steam and the largest, Germany, contracted thanks to a global slowdown driven by trade conflicts and uncertainty over Brexit.

Seasonally adjusted Gross Domestic Product (GDP) also rose 0.2% in the full 28 member European Union, compared to 0.5% in the three months to March, Eurostat said, according to AFP.

The EU statistics office stated that the number of employed people meanwhile increased by 0.2% in both the eurozone and the bloc, compared to 0.4% in the first quarter.

In June 2019, compared with June last year, industrial production fell by 2.6% in the eurozone zone and 1.9% in the EU 28, reflecting the wider slowdown in the economy.

Europe