IV:Euro zone Q2 GDP grows 0.3% as region exits recession
Investing.com - The euro zone’s economy grew for the first time in 18 months in the second quarter, as the region exited a recession, official preliminary data showed on Wednesday.
In a report, Eurostat said that the euro zone’s gross domestic product grew by a seasonally adjusted 0.3% in the second quarter, above expectations for growth of 0.2%.
The euro zone’s economy shrank 0.3% in the preceding quarter.
Year-on-year, euro zone GDP fell 0.7% compared to a year earlier, compared to expectations for a 0.8% contraction, after shrinking at a rate of 1.1% in the previous quarter.
Following the release of that data, the euro was little changed against the U.S. dollar, with EUR/USD holding flat to trade at 1.3262.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 was little changed, France’s CAC 40 added 0.2%, Germany's DAX inched up 0.1%, while London’s FTSE 100 declined 0.3%.
