BEIJING, Aug. 14 - Economic growth continued to
contract in the eurozone in the second quarter, with a 0.1% decrease compared to
the same period last year. Despite Germany and France's unexpected growth, the
European Union saw an overall contraction of 0.3%.
Compared with the same period last year, economic
growth was down 4.6 percent and 4.8 percent respectively in the 16-nation euro
zone and the 27-nation EU, according to new estimates from the Eurostat.
Germany, recorded a 0.3-percent growth in April-June
compared with the first quarter, bringing an end to a year-long recession for
Europe's largest economy. France, Greece and Portugal all posted the same rate
of growth.
Slovakia, who joined the eurozone in January,
registered the biggest quarter-on-quarter growth rate of 2.2 percent, while
Lithuania recorded the lowest, at minus 12.3 percent.
Hit hard by the global financial crisis, eurozone and
EU economies fell into deep recession in the first three months of this year,
registering a growth rate of minus 2.5 percent.
Compared with the same quarter of the previous year,
seasonally adjusted GDP decreased by 4.6 percent in the euro zone and by 4.8
percent in the EU, after a minus 4.9 percent and minus 4.7 percent respectively
in the first three months of this year.
Economic stimulus plans put in place by the EU and
member states, and consumer spending have contributed to the growth, however
experts in the region signal Europe has a long way to go before full economic
recovery.
Xinhua News Agency correspondents reporting from
Brussels. (XHTV)