(VOVworld) – Europe’s statistics agency announced on Friday a weak Eurozone growth for the second quarter of this year.
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| The growth in the eurozone was only 0.3 percent on the quarter. (Photo: AFP ) |
The agency said the growth in the eurozone was only 0.3 percent on the quarter, falling short of economists’ expectations of a 0.4 percent gain. However, the growth increased 1.2 percent against the same period last year. According to economists, the weak growth is due to France’s economic stagnation. Meanwhile, Spain was one of the economies achieving the strongest growth in the bloc.
The economists forecast the Eurozone economic growth would continue to increase, based on positive index from Spain and Germany, but increase slowly due to a fall in oil prices and euro. The European Central Bank has promised that it will pump 1 trillion euro until the end of September 2016 to meet member states’ credit demand.