Eurozone economy grows faster than expected

Inflation expected to fall to 5.3%

The economy of the eurozone bloc of countries beat expectations to expand more than predicted in the second quarter of 2023, while its inflation also dropped.

GDP rose by 0.3% in the eurozone, compared with the previous quarter, showing a return to growth stronger than the 0.2% analysts had predicted. Compared with the second quarter of 2022,  seasonally adjusted GDP increased by 0.6% in the Euro area. ECB hikes rates to match record high as inflation set to remain 'too high for too long' Growth across the EU as a whole was stable for the quarter at 0.2%, and 0.5% higher than the same period a year ago. The single currency area stagnated at the start of the year, registering no growth, and it only narrowly avoided falling into a techn...