8/16/2010

Germany Propels Growth in Euro Zone

FRANKFURT - The euro-zone economy grew at the fastest pace in four years in the second quarter, driven by an unexpectedly strong surge in Germany, preliminary data showed.

The combined gross domestic product of the 16 countries that use the euro grew 1% compared with the first three months of the year, marking the strongest quarterly expansion since the second quarter of 2006.

The data beat consensus estimates and followed strong German GDP figures. Germany's economy grew 2.2% between April and June, the fastest quarterly rate since reunification in 1990 and far stronger than economists' expectations.

Source: The Wall Street Journal (Author: Brian Blackstone)

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