Eurozone GDP growth weakens further in Q2

2018-08-01T02:41:32+05:00 Xinhua

BRUSSELS - The eurozone economy weakened further in the second quarter (Q2) of the year as trade uncertainty affected the business confidence.

The European Union (EU)'s statistical office Eurostat said on Tuesday that the Eurozone economy grew by just 0.3 percent quarter on quarter during the April-June period.

In the first quarter of 2018, Gross Domestic Product (GDP) had grown by 0.4 percent in eurozone, slower than 0.7 percent in the fouth quarter of last year.

"Trade uncertainty seems to have already had a significant effect on the eurozone economy in the second quarter," said Bert Colijn, senior economist at ING Bank.

Compared with the same quarter of the previous year, Eurozone GDP rose by 2.1 percent.

 

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