Investing.com – The euro zone’s gross domestic product grew in line with expectations in the second quarter, official data showed on Thursday.
In a report, Eurostat, the statistical office of the European Union, said the euro zone’s economy grew at an annualized, seasonally adjusted rate of 1.0% in the second quarter, unchanged from a preliminary estimate of 1.0%.
The rate of growth was in line with expectations.
Year-on-year, seasonally adjusted second quarter GDP grew 1.9%, revised up from a preliminary estimate of 1.7%.
The data primarily reflected an increase in household consumption expenditures, which rose 0.5% in the second quarter, compared to 0.2% in the previous quarter.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.07% to hit 1.2819.
In a report, Eurostat, the statistical office of the European Union, said the euro zone’s economy grew at an annualized, seasonally adjusted rate of 1.0% in the second quarter, unchanged from a preliminary estimate of 1.0%.
The rate of growth was in line with expectations.
Year-on-year, seasonally adjusted second quarter GDP grew 1.9%, revised up from a preliminary estimate of 1.7%.
The data primarily reflected an increase in household consumption expenditures, which rose 0.5% in the second quarter, compared to 0.2% in the previous quarter.
Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.07% to hit 1.2819.