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Eurozone economies bolstered by healthy growth

FACTORYmERCThe eurozone economy grew at a faster rate than initially thought in the first half of this year.

The data from Eurostat shows that France remains stuck in stagnation and lags behind the rest of the euro region.

The weakened euro meant that exports increased while continued low inflation encouraged consumers to spend. Lower oil prices also contributed.

The overall economy grew by 0.4% between April and June. Portugal, where growth has been steady since at least July 2014, showed exactly the same 0.4% for the period.

Compared to the same period last year, Portugal was able to welcome expansion of 1.5%.

The results have lead most observers to believe the future could be a bit brighter as the rate of growth has been the strongest since the beginning of 2011.

Spain’s economy was at the top of the eurozone chart after it grew by 1%. Greece for a change was not far behind, registering 0.9%. Both countries grew faster than the UK’s 0.7%.

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