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Eurozone growth rises in second quarter of 2017
Economics

Eurozone growth rises in second quarter of 2017

01.08.2017 From our online archive
Growth in the eurozone accelerated slightly in the second quarter of 2017 as Europe's tentative economic recovery remained on track, official EU data showed on Tuesday.

(AFP) Growth in the eurozone accelerated slightly in the second quarter of 2017 as Europe's tentative economic recovery remained on track, official EU data showed on Tuesday.

The economy in the 19-country single currency area grew by 0.6 percent between April and June, compared with 0.5 percent in the first quarter of the year, the Eurostat statistics agency said.

The figure was in line with analyst forecasts published by data company Factset.

The fresh data will reinforce hopes that despite uncertainty and the turbulence of Brexit, the eurozone is emerging from the worst of the financial crisis that began in 2008.

The growth figures come a day after figures showed unemployment in the eurozone had dropped to its lowest level in eight years.

Compared with the same quarter in 2016, economic output in the eurozone rose by 2.1 per cent, Eurostat said.

The figures come a week after the IMF said the eurozone economic recovery was broad and strengthening, but warned that low inflation, fragile banks and Brexit remained significant risks.