Friday, July 29, 2016

Euro zone economic growth slows in second quarter

Economic growth in the euro zone slowed in the second quarter as uncertainty before the British vote to leave the European Union swirled, data showed on Friday, and economists said it could be a sign of future weaker growth.
Gross domestic product (GDP) in the 19 countries sharing the euro rose 0.3 percent quarter-on-quarter in the April-June period, halving from the 0.6 percent growth in the first quarter of the year, European statistics office Eurostat said.
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First estimates on euro zone inflation released on Friday by Eurostat showed a slight rise to 0.2 percent in July from 0.1 percent the previous month, but still far away from the ECB target of a rate close to 2 percent, while core inflation remained stable.

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