Euro GDP up 0.3%

<p>European economic data has been revealed.</p>

The euro area's economy grew by 0.3 per cent during the second quarter of the year, new data has revealed, while the EU 27 GDP was 0.4 per cent higher.

Figures released by the European Commission have indicated that these numbers were -0.5 per cent and zero per cent respectively compared with the second quarter of 2012.

This shows the problems still seen in economies across Europe, with many nations struggling to bounce back from the recession and suffering from the after-effects of the slowdown.

"Compared with the same quarter of the previous year, seasonally adjusted GDP fell by 0.5 per cent in the euro area and remained stable in the EU27 in the second quarter of 2013," it was noted by the European Commission.

It added that GDP in the United States grew by 0.6 per cent compared with the previous quarter between April and June this year.

Inflation in the euro area was recently shown by figures released by Eurostat, the statistical office of the European Union, to have dropped during the course of August.

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