Disappointing news from the top two economies of the Eurozone. The new data on the trend of the gross domestic product of Germany and France disappoint analysts' expectations.
From Berlin they announced this morning that the German GDP in the second quarter it grew by 0,4% compared to the January-March period and by 1,6% on an annual basis. Analysts had expected an increase of 0,5% over the quarter and 1,6% over the year.
THEFrench economy, on the other hand, recorded no cyclical change in the second quarter (against expectations of growth of 0,2%), according to preliminary estimates released today by the national statistical agency Insee. The figure relating to the first quarter was instead revised upwards from +0,6 to +0,7%. On an annual basis, GDP increased by 1% in the second quarter, again disappointing market expectations (+1,1%).
Finance Minister Michel Sapin said the government, thanks to stronger exports and investments, is confident it can achieve the 1% GDP growth target for the whole of 2015.
Yesterday Athens had made it known that the Greek GDP in the second quarter it showed growth of 0,8%, thus technically exiting the recession, since the first three months of the year ended with zero growth. The figure for the second quarter is also higher than expected, with analysts estimating zero growth. On an annual basis, GDP rose by 1,4%.
