Euroland’s Economy Expanded At The Strongest Pace In Four Years In The 2Q, Underpinned By A Stronger Growth In Germany
Euroland’s economy expanded by 1.0% qoq in the 2Q, the fastest in four years and after inching up to +0.2% in the 1Q. This was more than economists’ forecast, powered by a robust growth in Germany. Germany, the largest economy in the region, grew by 2.2% qoq in the 2Q, the fastest growth in two decades and compared with +0.5%in the 1Q. Similarly, real GDP in France and Spain grew at a faster pace of 0.6% and 0.2% qoq respectively in the 2Q, compared with the corresponding rates of +0.2% and +0.1% in the 1Q. These were aided by a pick-up in economic activities in Netherlands, Austria, Slovakia, Estonia, Belgium and Lithuania. Economic growth in Italy, however, held stable at 0.4% qoq in the 2Q, the same rate of increase as in the 1Q. These were, however, offset partially by a sharper decline in Greece’s economy and a slowdown in Portugal and Latvia’s economic growth, while Hungary’s economy stagnated during the quarter. Yoy, real GDP rose by 1.7% in the 2Q, after returning to a positive growth of 0.6% for the first time in six quarters in the 1Q.
Tracking The World Economy... - 16/08/2010
No comments:
Post a Comment