Aug 12, 2016

Italian economy stagnates as German growth slows

Italy's economy failed to grow between April and June as the country struggled with its creaking banking sector.

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GDP growth shrank to 0% in the second quarter compared to 0.3% in the first quarter.
Germany's economy also slowed in the second quarter, albeit less markedly than had been expected. 
Europe's largest economy expanded by 0.4%, down from 0.7% in the first quarter, but above forecasts of 0.2%.
Overall, a second estimate of GDP across the eurozone confirmed that growth halved to 0.3% from 0.6% in the first three months of the year.
GDP also fell across the 28-nation European Union to 0.4% from 0.5% between the first and second quarters.

BBC News Services