European Union Q2 growth revised upward slightly
BRUSSELS (AP) — The European Union's statistics office has revised its second quarter economic growth estimate up slightly in the latest sign that the bloc has left the recession behind.
Eurostat said Wednesday the 27 countries' combined gross domestic product grew 0.4 percent in the second quarter compared with the previous three-month period, when it shrank 0.1 percent. The agency, which had last month estimated growth of 0.3 percent, said the revision was due to more complete data from several member states.
It left unrevised its 0.3 percent growth estimate for the 17 countries sharing the euro currency.
The agency says seasonally adjusted GDP fell by 0.5 percent in the eurozone compared with a year earlier and remained stable for the EU, revised up from estimated drops of 0.7 percent and 0.2 percent.