Eurozone divided as Germany speeds on

GDP increased by 1.0% in both the euro area1 (EA16) and the EU27 during the second quarter of 2010, compared with the previous quarter, according to flash estimates published by Eurostat, August 2010. In the first quarter of 2010, growth rates were +0.2% in both zones.

Beneath the headline rate, the familiar theme of a two-speed Europe, with Germany as the healthy 'core' and much of southern Europe as the troubled 'periphery', gained strength on the back of the figures.

The German economy grew by 2.2%, its fastest quarterly growth in more than 20 years.

BBC News, 13.8.10: German economy sees 'record' growth of 2.2% http://www.bbc.co.uk/news/business-10962017

Eurostat: Press Release: STAT/10/120: Flash estimates for the second quarter of 2010 Euro area and EU27 GDP up by 1.0% +1.7% in both zones compared with the second quarter of 2009 http://europa.eu/rapid/pressReleasesAction.do?reference=STAT/10/120&format=HTML&aged=0&language=EN&guiLanguage=en

France24, 13.8.10: Eurozone growth surpasses US on strong German gains http://www.france24.com/en/20100813-eurozone-growth-climbs-past-us-levels-economy-gdp-markets

Deutsche Welle, 13.8.10: German economy eclipses growth forecasts http://www.dw-world.de/dw/article/0,,5907090,00.html

Destatis: Press Release, No.284, 2010(13.8.10): Record increase in gross domestic product in the 2nd quarter of 2010 https://www.destatis.de/EN/PressServices/Press/pr/2010/08/PE10_284_811.html

Spiegel Online International, 13.8.10: Greatest Economic Boom Since German Reunification http://www.spiegel.de/international/germany/0,1518,711679,00.html

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