Eurozone economic growth slips in Q2 2024

Eurozone’s economic growth during the second quarter of this year was slightly lower than initially estimated, following a data revision by the EU's statistics agency on Friday.

The 20-country single currency zone's recorded economic growth of 0.2 percent between April and June from the previous quarter, down from the 0.3 percent estimate in July, News.Az reports citing foreign media.

Eurostat also revised its figure for the 27-country European Union's economy, which expanded by 0.2 percent, slightly lower than the previous estimate of 0.3 percent.

Analysts surveyed by FactSet and Bloomberg had forecast the eurozone economy to grow by 0.2 percent before the first estimate was published in July.

The revisions will likely add to concerns about the eurozone, especially over Germany, Europe's largest economy, which is weighing on the area's performance.

Germany's output contracted by 0.1 percent in the second quarter, official data showed.

News.Az