Eurozone flash Q2 GDP steadies at 0.2% q/q, meets estimates - EUR/USD unmoved

Dhwani Mehta FXStreet

According to the second revision to the Eurozone GDP published by Eurostat, the statistical office of the European Union (EU), the Eurozone economy expanded 0.2% in the second quarter of 2019, confirming the preliminary flash readout.

On an annualized basis also, the region’s economic growth matched the original estimates and arrived at 1.1%. Both the figures met the consensus forecasts.

Meanwhile, the bloc’s Industrial Production came in at -1.6% m/m in June vs. -1.4 expected and +0.8% last while Preliminary Employment Change arrived at 0.2% q/q in Q2 vs. 0.3% expected and 0.3% previous.

The EUR/USD pair showed little reaction to the in line with estimates Eurozone growth numbers for Q2 2019. At the press time, the spot traded around 1.1175/77 levels, off the 1.1186 highs.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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