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.

Find up to date information on the FTSE 100 and spread betting strategies at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.