The German and French economies grew faster than the United States in the second quarter, pulling the euro zone out of its longest recession.
Growth in the 17-country bloc was 0.3 percent from the previous quarter, with its two biggest economies both revealing unexpected strength, data from the European Union's statistics office Eurostat showed on Wednesday. A Reuters poll had forecast 0.2 percent.
Germany grew 0.7 percent, its largest expansion in more than a year thanks largely to domestic private and public consumption.
France's economy expanded 0.5 percent, pulling out of a shallow recession to post its strongest quarterly growth since early 2011. The turnaround was driven by consumer spending and industrial output, although investment dropped again.
Read more: Germany, France pull euro zone out of recession | Reuters
Growth in the 17-country bloc was 0.3 percent from the previous quarter, with its two biggest economies both revealing unexpected strength, data from the European Union's statistics office Eurostat showed on Wednesday. A Reuters poll had forecast 0.2 percent.
Germany grew 0.7 percent, its largest expansion in more than a year thanks largely to domestic private and public consumption.
France's economy expanded 0.5 percent, pulling out of a shallow recession to post its strongest quarterly growth since early 2011. The turnaround was driven by consumer spending and industrial output, although investment dropped again.
Read more: Germany, France pull euro zone out of recession | Reuters
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