Euro zone Q2 growth revised down slightly
Euro zone economic growth was slightly less robust in the second quarter than forecast but still strong, and employment rose again, revised data from the European statistics office showed on Wednesday.
Eurostat said gross domestic product in the 19 countries using the euro rose 0.6 per cent quarter-on-quarter in April-June for a 3.9 per cent year-on-year rise. The office had previously estimated the quarterly growth at 0.7 per cent and the year-on-year rise at 4.0 per cent.
"This is still a solid outturn (outcome) which leaves the GDP figures painting a flattering picture of growth dynamics in H1 2022," said Ricardo Amaro, economist at Oxford Economics.
But economists believe the second quarter growth might be the economy's last hurrah before ever-higher inflation and supply chain problems cause a mild recession over the course of the next 12 months.
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