Eurozone GDP Growth Eases Slightly

Eurozone economic growth slowed marginally in the second quarter, preliminary data from Eurostat showed Friday.

Gross domestic product expanded 0.3 percent sequentially in the June quarter. The rate of growth was expected to remain unchanged at 0.4 percent.

Year-on-year, GDP growth improved to 1.2 percent from 1 percent. Nonetheless, annual growth was slightly slower than the 1.3 percent expansion forecast by economists.

Final data from Eurostat confirmed 0.2 percent inflation for July, the same rate as seen in June. On a monthly basis, consumer prices fell 0.6 percent.

At the same time, core inflation accelerated to a 15-month high of 1 percent from 0.8 percent in June. The statistical office confirmed the flash estimate released on July 31.

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