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Eurozone GDP growth slows to 0.3 pct in Q2: official data

Xinhua, September 6, 2016 Adjust font size:

The economy expansion in the 19-country eurozone slowed in the second quarter, official data showed Tuesday, with the reading for the previous quarter being revising down a notch.

Seasonally adjusted gross domestic product (GDP) rose by 0.3 percent in the single currency bloc and by 0.4 percent in the wider European Union (EU), compared with the previous quarter, said Eurostat, the EU's statistic agency.

In the first three months, GDP grew by 0.5 percent in the eurozone, Eurostat said, lower than the previous estimate of 0.6 percent published in August. For the EU, the reading was confirmed as 0.5 percent.

Disparity was recorded among member states. Romania saw the highest growth of 1.5 percent from April to June, followed by Hungary, of 1 percent, while growth stalled in France, Italy and Finland, data showed.

Looking into the components and contributions to growth in the second quarter, household final consumption expenditure rose by 0.2 percent in the eurozone and by 0.4 percent in the EU. Gross fixed capital formation was stable in the euro area and increased by 0.2 percent in the wider EU.

Exports and imports as well registered expansion in both zones, said Eurostat. Endit