Eurozone GDP grew 0.7% on a quarterly basis in the second quarter

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By Maria Martinez


The eurozone economy grew at a faster pace than expected in the second quarter as the services sector benefited from the reopening of the economy.

Across the 19 countries that use the euro as their currency, GDP grew 0.7% compared with the previous three-month period, the European Union’s statistics agency Eurostat said Friday in a first estimate for the period. This figure is in above the forecast of 0.1% growth from economists polled by The Wall Street Journal.

Year-on-year, the economy grew 4.0%, Eurostat said. This compares with 3.4% growth expected by economists polled by WSJ.

Eurozone economic growth data for individual countries were also published Friday. The German economy stagnated in the second quarter, France’s GDP posted a 0.5% expansion, Italy rose by 1.0% and Spain posted 1.1% growth on quarter.


Write to Maria Martinez at maria.martinez@wsj.com


This article was originally published by Marketwatch.com. Read the original article here.

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