Growth in the euro zone economy accelerated in the second quarter of the year, but the region’s prospects get hit as Russia continues to reduce gas supplies.
The 19-member bloc registered a gross domestic product rate of 0.7% in the second quarter, according to Eurostat, Europe’s statistics office, beating expectations of 0.2% growth. It comes after a GDP rate of 0.5% in the first quarter.
The numbers contrast sharply with the negative annualized readings out of the United States for both the first and second quarter, as the euro zone continues to benefit from the reopening of its economy after the pandemic.
However, a growing number of economists are expecting the euro zone to slide into a…