Europe's economy is slowing down.
According to the preliminary Eurostat data Eurozone GDP grew by 0.2% quarter-on-quarter in the April-June period, down from 0.4% in the previous three months.
In the EU 28 the situation is 0.2% vs 0.5%.
Year-on-year, Eurozone GDP growth was 1.1%, slowing from 1.2% in the January-March period.
Softening global demand and uncertainty about the outlook dampen economic activity.
The jobs market was a bright spot in Wednesday's economic data releases.
The Eurozone's jobless rate slipped by 0.1 percentage point in June from May to 7.5%, the lowest level since July 2008.
But youth unemployment is still worrying.
Christian Spahr, European Commission Spokesperson: "Youth unemployment is at the heart of our agenda with almost one young person out of seven on the labour market searching, but unable to find employment. Job creation is hugely important."
Despite unemployment in the Eurozone zone hitting an 11-year low, consumer price growth decelerated
Year-on-year inflation in July was 1.1%, down from 1.3% in June.
That means that the Eurozone inflation was at 17-month low and far from the European Central Bank's target of close but below 2%.
And this fact only strengthens expectations that the European Central Bank will add further stimulus in September, after its president Mario Draghi said last week that the economic outlook was worsening.
The ECB is expected to unveil a package of measures, including rate cuts and possibly additional purchases of Eurozone bonds.
Source - Euronews
See all the news
Reuters: Dutch city tells floating Georgian monastery to cast off
The NBG hiked further as the GEL stays undervalued
World Bank expects slowdown of Georgia's economic growth in Q4 of 2019
Georgia-Estonia Business Forum is Held Today
Nestle Sees $250 Million Boost for Starbucks Products
GDP will be Calculated by the Updated Methodology from Today – What the Reform Will Cause
BM.GE: Giorgi Gakharia has selected a new business ombudsman
Tourist Number Hits a Record within 10Months and Exceeds 8 MLN Despite Putin’s Flight Ban
Galt & Taggart does not rule out slowdown of economic growth to 4% in 2020
Mamuka Khazaradze: finally, I also found out what we were accused of
Salmonella detected in frozen chicken meat imported from Ukraine
Talakvadze about Tskaltubo Development Project: special rules won’t apply to Ivanishvili
m2: we do not have any plans for Center Point at this stage
Georgia Capital to open 6 new hotels in Georgia under the new brand Amber Group
The CEO of m2 Group is changed - Shota Berekashvili replaces Irakli Burdiladze
The 30 Top Emerging Travel Destinations for 2020
"We hold rather comfortable shares on the market " – Does TBC Bank want to Buy Cartu?
Russians buy the most real estate among foreigners in Georgia
Interview with Ahmed Bin Sulayem - Executive Chairman and CEO of DMCC
Agreement signed between Silknet and Euronews to launch “Euronews Georgia”