Growth in the eurozone has stalled.
The 18-country euro area showed 0.0% GDP growth in Q2, down from 0.2% in Q1 and worse than the 0.1% expected by economists.
This follows disappointing GDP reports from Germany, which declined by 0.2%, and France, which showed no growth.
"The poor figure is chiefly driven by downside surprises in Italy, France, and Germany, which all failed to grow in the second quarter," noted Pantheon Macroeconomics' Claus Vistesen. "On an annualized basis, eurozone growth is now running at a disappointing 0.4% in the first half of this year."
This follows disappointing inflation reports, which showed that price growth remain unusually low in the region.