Positive data from the Eurozone showed a growth in the GDP in the first reading of the second quarter at 0.6%, and a slowdown in inflation to levels of 5.3% in July.<\/p>\n\n\n\n
The Eurozone has been battling high inflation for the past year, which has prompted the European Central Bank to undergo a full year of consecutive interest rate hikes in an effort to bring prices down.<\/p>\n\n\n\n
Last week, the central bank raised interest rates by a quarter of a percentage point again, bringing the main interest rate to 3.75%.<\/p>\n\n\n\n
Previously, energy prices weighed heavily on prices in the Eurozone, but in recent months, food prices have contributed the most to inflation.<\/p>\n\n\n\n
In the second quarter of 2023, GDP growth for the euro area slowed down year-on-year, to 0.6%, compared to expectations of a slowdown to 0.5%.<\/p>\n\n\n\n
The inflation figures come on the back of previously moribund growth, with a contraction in the first quarter of this year on a quarterly basis. However, a statement showed that growth accelerated in the second quarter, expanding by 0.3% on a quarterly basis, above the 0.2% level that analysts had expected.<\/p>\n","protected":false},"excerpt":{"rendered":"
Positive data from the Eurozone showed a growth in the GDP in the first reading of the second quarter at 0.6%, and a slowdown in inflation to levels of 5.3% in July. The Eurozone has been battling high inflation for the past year, which has prompted the European Central Bank to undergo a full year …<\/p>\n","protected":false},"author":9,"featured_media":62193,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7211,6877,6928,6882],"class_list":["post-87173","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87173","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=87173"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87173\/revisions"}],"predecessor-version":[{"id":87174,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/87173\/revisions\/87174"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/62193"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=87173"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=87173"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=87173"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}