RTTNews - Thursday, the flash estimate from the Eurostat showed that the euro area contracted 0.1% sequentially in the second quarter, much slower than the 2.5% decline seen in the first quarter. Economists had expected a quarterly decline of 0.5%.

Year-on-year, seasonally adjusted GDP dropped 4.6% compared to first quarter's 4.9% fall. The second quarter decrease was also smaller than the expected 5.1% decline.

During the second quarter, the U.S. economy shrank 0.3% sequentially after falling 1.6% in the first quarter.

For comments and feedback: contact editorial@rttnews.com