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Euro Zone Second Quarter GDP Growth Slows to 0.2 Percent
Posted By admin On August 16, 2011 @ 8:02 am In Money Watch | Comments Disabled
Aug 16, 2011
The euro zone economy grew less than forecast in the second quarter, held back by a sluggish performance in Germany and stagnation in France, data from the European statistics agency showed on Tuesday.
The Eurostat agency estimated gross domestic product (GDP) for the 17-country euro zone increased 0.2 percent in the three months to end-June from the previous quarter, compared with economists’ forecasts of growth of 0.3 percent.
That was sharply off the rate of 0.8 percent in the first three months of the year.
Compared to the same quarter a year ago, Eurostat estimated GDP growth at 1.7 percent, compared to a year-on-year comparison of 2.5 percent in the first quarter of 2011.
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