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Euro zone economy confirmed to grow at robust pace in second quarter
September 7, 2017 / 9:03 AM / 2 months ago

Euro zone economy confirmed to grow at robust pace in second quarter

    BRUSSELS, Sept 7 (Reuters) - The euro zone economy grew at a
robust rate of 0.6 percent in the three months to June compared
to the first quarter, the European Union statistics office said
on Thursday confirming its earlier estimates and market
expectations.
    Eurostat confirmed that the 19-country currency bloc's
economic expansion accelerated in the second quarter after a
healthy 0.5 percent rise in the first three months of the year.
    The statistics office did revise upwards the data on euro
zone growth on a yearly basis. The bloc's gross domestic product
(GDP) expanded by 2.3 percent in the second quarter and by 2.0
percent in the first three months of the year, higher than
previous estimates of respectively a 2.2 percent and 1.9 percent
growth.
    The yearly figure for the second quarter was also higher
than the average forecast of economists polled by Reuters who
had expected a 2.2 percent rise on the year. 
    The Eurostat reading comes as the European Central Bank is
holding a policy meeting in Frankfurt with rate decisions to be
announced at 1145 GMT, followed by president Mario Draghi's news
conference at 1230 GMT.
    The final data on GDP growth in the second quarter confirm
the healthy state of the bloc's economy, positive news for the
ECB which could prepare the ground for a reduction of its
monetary stimulus, although below-target inflation and the
strong euro complicate the outlook.

 (Reporting By Francesco Guarascio; editing by Philip
Blenkinsop)
  

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