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Q2 euro zone growth confirmed strong


Q2 euro zone growth confirmed strong


The latest EU figures have confirmed economic growth in the euro zone did jump in the second quarter but, worryingly, consumer demand contributed less than originally thought to that rebound.

Final calculations by the EU statistics agency Eurostat showed gross domestic product in the 16 countries using the euro grew by one percent from the first quarter, its fastest pace in four years.

Year-on-year the gain was one point nine percent.

Crisis-hit Greece was the only euro zone country to suffer a fall in economic output, though figures for Ireland were not available.

Germany, the currency area’s biggest economy, helped lift the overall figure, recording 2.2 percent quarterly growth.

In the United States and Japan, the economy grew 0.4 percent in the same period.

Eurostat said household consumption contributed less than thought to euro zone growth – 0.1 percentage points quarter on quarter compared with 0.3 points reported previously, leading to concerns the region’s recovery is about to run out of steam.

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