Eurozone Q2 GDP revised higher to 1.5% y/y

By FXStreet FXStreet (Mumbai) – The official data released on Tuesday revised the second quarter Eurozone GDP higher to 1.5% year-on-year from the initial estimate of 1.2%. Quarter-on-quarter, the GDP was revised higher to 0.4% from 0.3%.

The official Eurostat report says, “Household final consumption expenditure had a positive contribution to GDP growth both in the euro area and the EU28 (+0.2 and +0.3 percentage points). Gross fixed capital formation had a negative contribution to GDP growth in the euro area (-0.1 pp) and was neutral in the EU28 (0.0 pp). The contribution of the external balance to GDP growth was positive for both zones, while the contribution of changes in inventories was negative.”

GDP increased in all Member States for which data are available for the second quarter of 2015, except France where it remained stable.
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Source:: FX Street