BRUSSELS: Economic growth in the eurozone slowed in the second quarter this year, official data showed on Tuesday, as concerns rose that global trade tensions fuelled by Washington may be reining in the European economy.
The European Central Bank and IMF have warned that eurozone growth risks taking a hit from the rising protectionism that stemmed from the "America First" policies of US President Trump
Growth in the 19-country single currency bloc hit 0.3% in the April to June period, below the 0.4% in the previous quarter, the EU's Eurostat statistics agency said.
Major economic institutions -- including the European Central Bank and International Monetary Fund -- have warned that growth in the eurozone risked taking a hit from the rising protectionism that stemmed from the "America First" policies of US President Donald Trump.
Eurostat said that on a year-to-year basis, economic growth in the eurozone reached 2.1%, far lower than the 2.5% in the previous quarter but still ahead of the 1.8% reached in 2016.
This figure is lower than a forecast by analysts surveyed by data service Factset, who tabled for growth of 0.4%.
Eurozone inflation meanwhile accelerated in July to 2.1% driven by high energy prices. This was slightly faster than forecasts by analysts and about on level with the ECB target.
In a flurry of data released before the summer break, Eurostat also said unemployment in the eurozone remained flat in June, at 8.3%.
Unemployment in the euro area has been falling steadily since it fell below the symbolic threshold of 10.0% in September 2016.
However, it is still higher than the average rate before the financial crisis, when it stood at 7.5%.
Among the 19 single currency countries, the lowest unemployment rates in May was recorded in Germany at 3.4%, according to Eurostat.
The highest rate was recorded in Greece with 20.2% in April, the latest available figure. Crisis-hit Spain saw its rate fall to 15.2%.