DM:Euro Zone GDP Rises In Line With Expectations In Q2
Forexpros – The euro zone’s economy grew in line with expectations in the second quarter of 2011, revised data showed on Tuesday.
In a report, Eurostat said that the euro zone’s gross domestic product increased by a seasonally adjusted 0.2% during the second quarter, unchanged from a preliminary estimate.
Year-over-year, euro zone GDP grew at an annualized rate of 1.6%, down from a preliminary estimate of a 1.7% gain.
Following the release of that data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.59% to hit 1.4182.
Meanwhile, European stock markets were higher. The EURO STOXX 50 climbed 1.1%, France’s CAC 40 rose 1.05%, Germany’s DAX advanced 0.95%, while the FTSE 100 jumped 1.3%.
