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Eurozone economic growth slows in Q2

Xinhua, July 29, 2016 Adjust font size:

The eurozone economy slowed in the second quarter this year, falling back from 0.6 percent in the first quarter of the year, figures of Eurostat showed Friday.

"After the strong growth in the first quarter, which was helped by some temporary factors like the mild winter weather, it was no surprise that there would be some pay-back in the second quarter," economist Peter Vanden Houte at ING Bank said.

Analysts said the figure is likely to be revised downward after some big member states like Germany and Italy publish their GDP figures.

Other negative factors includes the euro's depreciation fading, oil prices stabilising and the Brexit fallout still to come. Endit