Eurozone GDP figures- PwC comments

Published at 14:22 PM on 14 August 2014

In response to Q2 2014 GDP figures out today, Richard Boxshall, senior economist at PwC, said:

“The latest GDP figures emphasise a soft core at the centre of the eurozone. Specifically, Italy slipped into recession for the third time since 2008, while French output remained unchanged. German output also shrunk in Q2, but we think this is temporary as it was mostly driven by the Russia/Ukraine standoff which dampened confidence. Domestic demand however remained strong as imports grew faster than exports. 

"In contrast, Portugal and Spain were the star performers of the eurozone. Spanish output grew at 0.6% in Q2, which is the fastest rate recorded since Q4 2007. The effects of this can clearly be seen in the Spanish labour market as the unemployment rate has been steadily decreasing since the end of last year.”

  Eurozone

Ends

 

Gill Carson
PwC | Media Relations Manager
Office: 020 7212 1391 | Mobile: 07837 285466
Email: [email protected]
PricewaterhouseCoopers LLP
twitter: @gill_carson
http://www.pwc.com/

 

 

                       


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