THE EUROZONE’S rapid growth spurt lost some momentum in August with a robust performance by Germany failing to make up for a weaker pace of expansion in France and near stagnation elsewhere in the 16-country region.
The eurozone expanded rapidly in the three months to June, when gross domestic product rose by 1 per cent compared with the previous quarter, powered by a dramatic 2.2 per cent expansion in Germany.
The composite eurozone index, covering manufacturing and service sectors, fell from 56.7 in July to 56.1 in August, a two-month low. With a figure above 50 indicating an expansion in activity, that represented the 13th consecutive month of growth. Germany continued to push ahead with a four-month high of 59.3, up from 59.0 in July. But France’s composite index dipped from 59.7 in July to 59.0 in August, the lowest for five months. – (Copyright The Financial Times Limited 2010)
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