Eurozone economy slows in Q2, official data shows

Containers are pictured at a loading terminal in the port of Kiel, Germany, January 25, 2017. — Reuters pic
Containers are pictured at a loading terminal in the port of Kiel, Germany, 25, 2017. — Reuters pic

BRUSSELS, Aug 14 — Economic growth in the 19-country eurozone slowed to 0.2 per cent in the second quarter of 2019, after expanding 0.4 per cent in the first, official data showed today.

Seasonally-adjusted Gross Domestic Product also rose 0.2 per cent in the full 28 member European Union, compared to 0.5 per cent in the three months to March, Eurostat said.

Analysts had warned that the uptick in eurozone growth would not last.

The number of employed people meanwhile increased by 0.2 per cent in both the eurozone and the bloc, compared to 0.4 per cent in the first quarter, the EU statistics office said.



In June, seasonally adjusted industrial production fell by 1.6 per cent in the euro area and by 1.5 per cent in the EU 28, compared with the previous month.

In June 2019, compared with June last year, industrial production fell by 2.6 per cent in the eurozone zone and 1.9 per cent in the EU 28, reflecting the wider slowdown in the economy. — AFP

Source: The Malay Mail Online





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