European Union Q2 GDP growth sees small upward revision
People queue outside an unemployment registry office in Madrid, Spain, in this file photo dated Monday May 6, 2013. (AP / Paul White)
Published Wednesday, September 4, 2013 8:19AM EDT
BRUSSELS, Belgium -- The European Union's statistics office has revised its second quarter economic growth estimate up slightly in the latest sign that the bloc has left the recession behind.
Eurostat said Wednesday the 27 countries' combined gross domestic product grew 0.4 per cent in the second quarter compared with the previous three-month period, when it shrank 0.1 per cent. The agency, which had last month estimated growth of 0.3 per cent, said the revision was due to more complete data from several member states.
It left unrevised its 0.3 per cent growth estimate for the 17 countries sharing the euro currency.
The agency says seasonally adjusted GDP fell by 0.5 per cent in the eurozone compared with a year earlier and remained stable for the EU, revised up from estimated drops of 0.7 per cent and 0.2 per cent.