BGN Entrepreneur

The German economy grew by 2.2% in the three months to the end of June, showing the fastest quarterly growth in more than 20 years, the official figures. “These quarter on quarter growth ever recorded in the reunified Germany,” the national statistics office, Destatis, said. The main reason for the higher-than-expected growth was strong exports, supported by a weaker euro.

The economy of the euro zone rose by 1% during the quarter. This compares with growth of 0.2% in the first three months of the year, the official statistics agency, Eurostat, said.
Continue reading the main story. The French economy grew by 0.6% in the second quarter, also of 0.2%, while the Spanish economy grew by 0.2%, compared with 0.1% in the previous three months. The pace of growth in the Italian economy remained the same, at 0.4%. Greece saw its economy but also shrink by 1.5% during the quarter. The government of the country has instigated a series of far-reaching austerity measures developed recently to reduce its high budget deficit. All the second quarter figures are preliminary estimates and could be revised upwards or downwards in the coming months.

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