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Euro zone economic growth

Euro zone economic growth | 08 September 2022

08 September 2022, EUR/USD

Euro zone economic growth

EURUSD trading plan:

Euro zone economic growth was stronger than previously estimated in the second quarter, data showed on Wednesday, as household spending recovered after half of year of stagnation despite the squeeze on disposible income from spiraling inflation. The European Union's statistics office Eurostat said gross domestic product in the 19 countries using the euro rose by 0.8% quarter-on-quarter and by 4.1% from a year earlier. While Germany registered nearly no growth, France expanded by 0.5% from the previous quarter and both Italy and Spain by 1.1%. Growth was strongest in the Netherlands at 2.6%. Some countries, such as Finland and Portugal revised up their growth estimates, while Ireland and Greece reported solid expansion after having no estimates in mid-August.

Investment idea: buy 0.9975 and take profit 1.0025.

David Johnson
Analyst of «FreshForex» company
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