Prior +0.3%
Looking at the breakdown, household consumption was more or less negligible on the quarter and that is the same for changes in inventories. Government expenditure contributed 0.1% while gross fixed capital formation fell by 0.5%. The latter was offset by trade i.e. exports less imports, which contributed 0.5% on the quarter.
Anyway, this just reaffirms some resilience in the euro area economy in Q2 but things have slowed down quite a fair bit in Q3.
This article was written by Justin Low at www.forexlive.com.
