Arab Today, arab today eurozone growth revised up to 04 in second quarter
Last Updated : GMT 03:17:05
Arab Today, arab today
Arab Today, arab today

Eurozone growth revised up to 0.4% in second quarter

Arab Today, arab today

Arab Today, arab today Eurozone growth revised up to 0.4% in second quarter

Eurozone economy
Brussels - AFP

The 19-nation eurozone grew by 0.4 percent in the second quarter, official data showed on Tuesday, revising upward a first estimate that triggered worry the crisis in Greece had destabilised growth in Europe.

Last month, the EU's Eurostat agency said the eurozone grew by just 0.3 percent in the April to June period, lower than what analysts expected.

Eurostat also updated the first quarter growth figure from 0.4 percent to 0.5 percent, boosted by high-growth Ireland which was not included in earlier estimates, a Eurostat official said.

The more upbeat data comes as concerns are growing about the global economy, hit by a slowdown in powerhouse China that has spooked financial markets.

The revised figures still demonstrate that the eurozone economy suffered a slowdown in the first half of 2015, despite a massive European Central Bank stimulus programme to boost the fragile recovery.

"The upward revision may prompt some suggestions that the eurozone economy does not need any more policy support," said Jonathan Loynes, chief European economist at Capital Economics.

"But the figures are obviously backward-looking and don’t incorporate the latest deterioration in the outlook caused by external developments like the concerns over China, nor the recent rise in the euro," he added.

Eurostat said that all members of the eurozone expanded in the second quarter, except France, the bloc's second biggest economy, which posted zero growth.

Export champion Germany, the bloc's top economy, grew at the eurozone average, by 0.4 percent.

Greece managed 0.9 growth in the period that was deeply marked by a political crisis dividing leftist-led Athens with its eurozone creditors.

Spain saw growth in the period shoot up by one percent, well above the eurozone average, leaving it the best example of post-crisis recovery despite a high rate of unemployment.

Sluggish Italy saw its first estimate adjusted upward to 0.3 percent, from 0.2 percent.

"With upward revisions to both the first and second quarters, a 1.5 percent growth rate for 2015 comes back within reach," said Teunis Brosens of ING bank.

"Today’s figures show that the eurozone economy was continuing its modest recovery in the second quarter. The first indications for the third quarter are more of the same," he added.

However the ECB said last week that the recovery in the euro area would continue at a slower pace than previously anticipated because of the turbulence from China.

"There is the very real risk that slowing growth in the emerging markets centred on China not only hits eurozone exports but also has an appreciable negative impact on eurozone business sentiment and leads to a scaling back of investment and employment plans," said Howard Archer, economist at IHS Securities.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eurozone growth revised up to 04 in second quarter Arab Today, arab today eurozone growth revised up to 04 in second quarter

 



Arab Today, arab today
Arab Today, arab today Nohan Seyam designs beautiful accessories

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today 57 monkeys carrying 'invasive' genes

GMT 16:00 2017 Tuesday ,21 February

57 monkeys carrying 'invasive' genes
Arab Today, arab today 63-Year-Old Woman Delivers Baby

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby
Arab Today, arab today Small ponds have outsized impact

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday