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Eurozone: an economy flirting with stimulus
The second estimate of GDP growth in the Eurozone confirmed the slowdown to 0.2% QoQ. Most countries saw a slowdown compared to Q1, which had been inflated by one-off factors. Germany clearly stood out with a contraction of -0.1%, but Italian output growth also stagnated in Q2. French and Spanish GDP growth slowed too, making the Netherlands the largest economy to maintain its Q1 pace of growth. Eurozone industrial production provided more evidence that industry is currently the economy’s Achilles heel. Production for the Eurozone as a whole plummeted by -1.6% in June. German industry declined by -1.8% in June, but ... (full story)