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Business

Euro zone slows, but dodges recession

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Opening sequence

Business

Euro zone slows, but dodges recession

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COMING UP:Euro zone slows, but dodges recession

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Transcript

00:00:00
>> An update on Europe's economic growth Friday and the region is, at least, dodging a recession. Across the Eurozone, growth came in at a modest 0.3% in line with forecasts. The Netherlands and Spain doing relatively well, while activity is flat in Italy and France. Reuters Specialist Editor Nigel Stephenson.
00:00:19
>> There the picture is of no growth, it's stagnation, and that must be a worry. Particular in Italy where, of course, we've been talking about the health of the banks recently. And the political situation is rather delicate because Prime Minister Renzi has this referendum on constitutional reform sometime later in the autumn.
00:00:38
>> But the continent's economic engine is still running. Growth is slowing in Germany but not as much as analysts had feared. It expanded 0.4% in the second quarter, that's double the forecast pace.>> The stats office have drawn our attention to a good export performance and also, German consumers have kept spending.
00:00:59
>> No prize for spotting the cloud on the horizon though, economists warning that Brexit will start having an impact in the second half of the year. Britain's vote to leave the EU causing uncertainty across the continent. The Netherlands among those to warn that it expects a Brexit hit in the coming months.