EMU: Annual GDP falls 0.7% in Q2

FXstreet.com (Barcelona) - On an annual basis Eurozone economic growth contracted by 0.7% in the second quarter of the year, up from the 1.1% decline recorded the previous quarter, preliminary data published by Eurostat showed on Wednesday. This is slightly more positive than the 0.8% contraction projected by analysts.

Quarter-over-quarter Eurozone GDP increased 0.3%, compared with the 0.3% drop and above consensus of +0.2%.