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.


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