The modest growth in the euro zone countries masks uneven developments – Yahoo Finance Spain

By Ross Finley

LONDON (Reuters) – Economic growth in the euro zone fell by half in the second quarter to a modest pace as the slight slight slowdown in Germany was overshadowed by the surprising stagnation in Italy, which does not offer much hope for a decisive rebound in the euro bloc in the short term.

the quarterly expansion 0 , 3 percent, or 1.6 percent year fulfilled the expectations of economists polled by Reuters and showed that the euro zone was already slowing before the June 23 referendum in which the United Kingdom voted in please leave the European Union.

Although there has been no clear signs in polls an economic impact outside the UK since the vote, official data showed that a wave of activity earlier this year was brief and may be needed new stimuli.

“There remains the question of whether this lower growth rate can be maintained in the third quarter,” he wrote senior economist at ING Bert Colijn.

” with the uncertainty of ‘brexit’ weighing on exports and industrial weakness, it seems that the consumer has to carry on his shoulders much of the weight of the expansion of the euro zone, “he said.

the challenge for the authorities of the European Central Bank and economies reluctant to apply more fiscal stimulus euro area is that the growth rate in the euro area is now very uneven.

in Europe’s largest economy, Germany, gross domestic product (GDP) rose 0.4 percent, double the 0.2 percent forecast in a Reuters poll, and 3.1 percent compared to the same period last year, the highest annual figure in five years.

in Italy, the third largest economy in the euro zone, there was no growth in the second quarter by stagnation of industry and domestic demand.

data preliminaries for France, the second largest in the euro zone, published in late July also showed growth economy. In the Netherlands, the picture was much better, with growth of 0.6 percent in the second quarter, driven by services and decent domestic demand.

Data previously reported for Spain showed growth 0.7 percent in the second quarter. Greece, meanwhile, an economic expansion of 0.3 percent by the resurgence of tourism was noted.

Outside the euro zone, Poland -the largest economy in Europe the growth in this- second quarter rose slightly to 3.1 percent per year

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