Rolling coverage of the latest economic and financial news, including German growth figures
- Latest: Eurozone grew by 0.2%
- Breaking: Germany grew by 0.1% in the last quarter
- Economists expected another contraction
- Consumer spending, government and exports lifted growth
- But Q2 GDP revised down to -0.2%
European Central Bank’s Vice President Luis De Guindos has predicted there’s a “very low” risk of a eurozone recession, now that Germany has returned to growth.
However, he also fears that growth could remain below potential, unless governments step up and do more.
De Guindos made the comments after data showed the euro zone’s largest economy, Germany, narrowly avoided falling into a technical recession of two consecutive quarters of economic shrinkage.
Europe was in a place where growth remained “below potential” De Guindos said at a BNP Paribas banking conference, adding that the ECB needed “to pay close attention” to the situation.