Eurozone GDP revised upward to 0.4% in second quarter

    JN Fund Managers
    JN Fund Managers

    The Eurozone economy expanded more than initially estimated in the second quarter of 2018 (April – June), boosted by better than expected results from the Netherlands, Portugal and Germany. Gross Domestic Product (GDP) across the Euro area climbed 0.4%, in line with the previous three months, and above the initial estimate of 0.3%. Correspondingly, Annualized GDP growth was upwardly revised to 2.2% surpassing market expectations of it remaining unrevised at the initial 2.1% expansion. The upward revision to GDP growth in the second quarter is likely to give the European Central Bank (ECB) more confidence that their decision to wind down their asset buyback programme is justified.

    JN Fund Managers

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