by Fri, 13 Aug 2010 11:09:00 +0200
EMU's GDP beats forecast to the upside
FXstreet.com (Barcelona) - The Eurostat release positioned the Gross Domestic Product of the European Monetary Union above the expected growth trend.
The GDP Quarter-on-Quarter for Q1 was revised confirming the 0.2%, and while it was expected to leap to 0.7% in Q2, expansion extended to reach 1.0%. The strongest growth since Q2 2006.
In terms of the Year-on-Year, Q2 GDP was better-than-expected at 1.7%. A step up of the market forecast of 1.4%. Previous quarter's reading of 0.6% was revised and left unchanged.
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