The Eurozone economy grew by more than expected to 0.3 per cent in the second quarter, allaying fears that the nascent recovery in the bloc may be running out of steam.
Tuesday’s gross domestic product growth figure compared with 0.3 per cent over the first quarter and was above forecasts of economists polled by Reuters, who expected growth to slow slightly to 0.2 per cent.
In June, the European Central Bank became the first major central bank to start cutting interest rates. It forecast demand would steadily recover in the bloc this year as inflation slowed, wages kept rising and global trade picked up.
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