Eurozone GDP growth biggest since 2006

Eurozone gross domestic product grew at its fastest pace in more than three years in Q2, official figures show.

European Union statistics agency Eurostat said GDP in the 16-nation zone grew 1% versus Q1 and 1.7% against the same period last year. In addition, revised figures for the first quarter put growth at 0.5% instead of the original 0.2% estimate. The Q2 growth outpaced that in the US, where GDP increased 0.32% against the same period last year. Better than expected economic growth in Germany was largely responsible for the improved estimates. Second-quarter GDP data published earlier today showed the German economy grew 2.2% versus Q1, its fastest pace since reunification in 1990. ...