Eurozone growth stalled in second quarter slipping to 0.2pc
Published 16/08/2011 | 10:59
Eurozone growth lost ground in the second quarter and fell to 0.2pc from 0.8pc in the first as Germany and France ran out of steam.
The figures will be a talking point when German Chancellor Angela Merkel and French Prime Minister Nicolas Sarkozy meet later today.
They show the debt-laden eurozone moving in the wrong direction unlike the US and Japan which recently released more positive figures.
Analysts had expected growth in the 17 country area to be 0.3pc.
The slowdown mirrors those of Germany, the area’s biggest economy, and France.
Some countries reported more positive figures including Finland, which is becoming increasingly frustrated with bailed out economies, and Belgium.