Eurozone growth was better than initially indicated in the second quarter after improved consumer spending in Germany, easing concerns over an export-led slowdown.
Estimated growth in gross domestic product in the second quarter was 0.4 per cent, in line with the previous three months, the European Commission’s statistics bureau said on Tuesday. It had earlier estimated growth of 0.3 per cent.
“The big picture is that the eurozone economy is still doing pretty well despite growth not being quite as strong as last year. The data should give the European Central Bank a bit more confidence that wages and, eventually, price pressures will start to rise,” said Jack Allen, economist at Capital Economics, a research firm.
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