Economic news

Euro area Q2 yearly economic expansion estimates revised

The economies of all the euro zone countries have grown more than earlier anticipated in the April-June period compared to the same period last year, according to Eurostat’s Wednesday report.

GDP of euro zone grew by 0.6% in the second quarter in comparison to the first three months of the year, as assessed before, but the yearly figure was revised to 2.2% rise, although previously estimated at 2.1%. The quick estimates for yearly growth was as well bigger than the 2.1% predicted in a survey of nearly 30 economists by Reuters.

Economic expansion was more powerful in Holland and Latvia against the first quarter, the economy of Spain also showed growth higher than the average. Italy and France were a little lower than the mean figures, and Germany, the giant of the euro zone, expanded at the level of euro zone’s average in the second quarter.

European Central Bank officials will size up the proof of vigorous economic ascent to later start the discussions on modifying monetary policy following many years of remarkable stimulus.

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