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Eurozone GDP rises at 2.2% in the second quarter

16 Août 2017

The agency thus confirmed its preliminary estimate released on August 1.

The latest flash estimate published by the European Statistics Office, Eurostat, on Wednesday showed 0.6 percent growth also for the wider 28-nation European Union.

Gross domestic product grew 0.6 percent quarter-on-quarter, slightly faster than the 0.5 percent increase seen in the first quarter.

Year-on-year, seasonally adjusted GDP rose by 2.2 percent in the euro area and by 2.3 percent in the EU28 in the second quarter, after 1.9 percent and 2.1 percent growth respectively in the previous quarter.

The German 10-year bond yields, which moves inversely to its price, jumped almost 4 basis points to 0.46 percent, the yield on 30-year note also surged 4 basis points to 1.21 percent and the yield on short-term 2-year traded 2 basis points higher at -0.68 percent by 09:50GMT.

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The French economy grew at a steady pace of 0.5% driven by domestic spending and exports in the second quarter.

There was no breakdown on the growth components, but many individual European economies that have reported GDP data in recent days have remarked on strong domestic demand.

The push for end to quantitative easing could resurface at the remaining policy meetings this year.

Equity markets were performing more robustly, however, and the EuroStoxx 50 index rose 0.9%.

Eurozone GDP rises at 2.2% in the second quarter