July 30 (UPI) -- The Eurozone economy slowed sharply in the three months ending in June, posting growth of 0.1% after German and Italian GDP went negative, preliminary data out Wednesday from the European Union's main statistical agency shows.
The pace of economic growth across the 20 countries that use the euro fell from 0.6% in the first quarter of the year but the European Union as a whole held up a little better, with the economy recording a 0.2% expansion, Eurostat said in a news release.
Compared with 2024, the slowdown was marginal, +1.4% versus +1.5% in the first quarter for the eurozone, and +1.5% versus +1.6% in the first quarter across all 27 EU member countries, according to Eurostat, which caveated the data by saying it was subject to future revision.
Germany, the growth engine of the economic bloc, saw its economy shrink by 0.1%. Italy's GDP growth was also down 0.1%, while the Irish economy shrank by a full percentage point.
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