Germany posted record 2.2 per cent growth
The 16 economies that share the Euro currency expanded 1 per cent in the second quarter, beating expectations of 0.7 per cent growth—and beating U.S. growth of 0.6 per cent for April to June. Germany’s strong growth in exports fuelled its fastest quarterly growth on record at 2.2 per cent. (That number follows a 4.9 per cent decline last year, the country’s worst
annual performance since the Second World World War.) But it’s not all good news: countries in southern Europe continue to struggle. Greece’s economy shrank by 1.5 per cent last quarter while growth in Spain and Portugal was just 0.2 per cent. The UK, Europe’s second biggest economy, grew a modest 1.1 per cent. Canada’s second quarter results are due August 31.