Eurozone economy expands 0.4% in second quarter, exceeding forecasts

The Eurozone economy grew faster than expected in the second quarter, according to preliminary data released by Eurostat. Seasonally adjusted gross domestic product in the single-currency bloc increased by 0.4% compared to the previous quarter.

On an annual basis, economic output across the Eurozone rose by 1% relative to the same period last year. These initial estimates significantly outperformed financial market expectations, which had projected a quarterly growth rate of 0.2% and annual expansion of 0.5%. The figures point to stronger momentum in the European economy than analysts had initially anticipated.

Sources: Anadolu Ajansı (Anadolu Agency)