Eurozone Second-quarter Economic Growth Revised Down

The eurozone economy's growth in the second quarter this year was slightly smaller than previously estimated after the EU's statistics agency on Friday revised its data.

The 20-country single currency zone's recorded economic growth of 0.2 percent between April and June from the previous quarter, down from the 0.3 percent estimate in July.

Eurostat also revised its figure for the 27-country European Union's economy, which expanded by 0.2 percent, slightly lower than the previous estimate of 0.3 percent.

Analysts surveyed by FactSet and Bloomberg had forecast the eurozone economy to grow by 0.2 percent before the first estimate was published in July.

The revisions will likely add to concerns about the eurozone, especially over Germany, Europe's largest economy, which is weighing on the area's performance.

Germany's output contracted by 0.1 percent in the second quarter, official data showed.

Source: AFP