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Eurozone GDP Expands As Estimated In Q2

The euro area economy expanded as initially estimated in the second quarter, data from Eurostat showed Friday.

Gross domestic product climbed 0.4 percent sequentially, the same rate as seen in the first quarter and in line with preliminary estimate.

On a yearly basis, GDP growth eased to 2.1 percent from 2.4 percent in the preceding period. The annual rate was revised down from 2.2 percent.

The expenditure-side breakdown of GDP showed that the sequential growth was largely driven by the 1.2 percent rise in gross fixed capital formation.

Household spending climbed at a slower pace of 0.2 percent, while growth in government spending accelerated to 0.4 percent. Exports climbed 0.6 percent and imports increased 1.1 percent quarterly.

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