On July 18, 2024, MSC China was berthed on the dock in Antwerp, Belgium.
Jonathan Ra | Noor Photographs | Getty Photographs
Euro zone financial progress exceeded expectations within the second quarter of 2024, preliminary knowledge from Eurostat confirmed on Tuesday.
Information present that within the three months to the top of June, the area’s gross home product elevated by 0.3% in contrast with the identical interval final yr. Economists polled by Reuters had anticipated quarterly progress of 0.2%.
First-quarter GDP was confirmed at 0.3%, the identical because the preliminary worth launched earlier this yr.
In accordance with revised knowledge launched earlier this yr, the euro zone entered a technical recession within the second half of 2023 as GDP shrank in each the third and fourth quarters of this yr.
Information launched earlier within the day confirmed that Germany, the euro zone’s largest financial system, unexpectedly shrank 0.1% within the second quarter, decrease than analysts’ expectations polled by Reuters, who had beforehand anticipated the nation’s GDP to develop by 0.1%.
Germany was one in all solely 4 international locations to see its gross home product fall within the three months to the top of June, in response to Eurostat. Latvia, Sweden and Hungary are the opposite three international locations experiencing financial contraction.
On the identical time, Statistics Eire mentioned on Tuesday that Eire had the best GDP progress charge within the second quarter at 1.2%, whereas France, the euro zone’s second largest financial system, had a GDP progress charge of 0.3% throughout the identical interval.
That is breaking information, please verify again for updates.
