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Euro economy grows 0.5% in Q2

Growth in the euro zone economy slowed slightly to 0.5% in the second quarter of this year, according to the European Commission.

The Commission said the economy was likely to maintain roughly that pace for the rest of the year. The annual rate of growth in the euro zone in Q2 was 2%.

The figures, confirming a preliminary estimate released in mid-August, are slightly down on GDP growth of 0.6% in the first quarter.

The Commission meanwhile maintained its forecast that the euro zone economy is set to grow at between 0.3-0.7% in the third and fourth quarters of this year.