Comments
The eurozone economy emerged from a prolonged recession during the second quarter of 2013 thanks to a rebound in exports and domestic demand, data released on Wednesday showed.
The 17-member eurozone economy grew 0.3 per cent quarter-on-quarter, after six consecutive quarters of contraction, the European Union’s statistics office Eurostat said as it confirmed preliminary figures published last month.
Exports jumped by 1.6 per cent during the quarter, after contracting by 1 per cent in the first three months of the year, while household spending gained 0.2 per cent and corporate investment rose by 0.3 per cent.
The first quarter of the year had seen a sharp 2.2 per cent slump in corporate investment and a 0.2-per cent slide in household spending.
Releasing the data, Eurostat also revised up the second growth figure for the broader EU. The bloc’s economy was now estimated to have expanded by 0.4 per cent in the three months ended June, instead of a previous estimate of 0.3 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.