Eurozone GDP growth revised to 0.8% in Q2

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The Gross Domestic Product (GDP ) of the euro zone grew 0.8% in the second quarter compared to the first, according to the third reading of the data, published this Wednesday (7) by the official statistics agency of the European Union , Eurostat. Analysts heard by Wall Street Journal predicted that the previous estimate of 0.6% would be reaffirmed.

In the annual comparison, the GDP of the euro zone increased by 4.1% in the second quarter. The previous estimate had been for a rise of 3.9%, which was also the forecast of analysts.

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First quarter growth was also revised from a 0.5% increase over the previous quarter to a 0.7% growth.

In mid-August, Eurostat estimated growth of 0.6% and 3.9%, respectively.

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THE Germany barely registered growth, while France grew 0.5% compared to the previous quarter and Italy and Spain registered expansion of 1.1%. Growth was strongest in the Netherlands, at 2.6%.

Some countries, such as Finland and Portugal, revised upward their growth estimates, while Ireland and Greece recorded solid expansion after not having estimates in mid-August.

Eurostat pointed out that household spending contributed 0.6 percentage point to eurozone growth, after having zero participation in the previous two quarters. Government spending contributed with 0.1 point and capital formation with 0.2 point.

The contribution of foreign trade was negative 0.1 point.

With information from Reuters

Source: CNN Brasil

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