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More Brexit Fallout: Eurozone Growth Halves In Second Quarter

(Photo credit: DANIEL LEAL-OLIVAS/AFP/Getty Images)

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Robert Donachie Capitol Hill and Health Care Reporter
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Following recent speculations of other nation’s leaving the European Union, multiple quantitative easing measures, terrorist attacks, and general political uncertainty, the Eurozone reported the slowest growth rate since the middle of 2015.

The Eurozone, comprising some 19 countries, saw “growth halve[d] from the impressive 0.6 per cent rate recorded at the start of the year,” reports the Financial Times.

Italy, the second largest economy in the Eurozone, reported a staggering 0 percent growth rate over the last three months, with Greece not far ahead with just 0.3 percent.

Germany, the Eurozone’s largest and strongest economy over the past decade, witnessed a growth rate under one-half of a percent — 0.4.

Comparing the growth rate of the Eurozone to the United Kingdom in the second quarter of 2016, U.K.’s growth rate was more than double that of the Eurozone. The U.K. grew at a 0.6 percent rate, while the Eurozone saw just 0.3 percent growth. The U.S. growth rate was right on par with the Eurozone in the second quarter.

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