India, July 30 -- The euro area economy logged better-than-expected growth in the second quarter but the pace of expansion slowed markedly as the first quarter performance was inflated after U.S. importers frontloaded their orders to reduce the cost burden of higher tariffs.
Gross domestic product grew 0.1 percent sequentially, after rising 0.6 percent in the first quarter, preliminary flash estimate from Eurostat showed Wednesday. GDP was expected to remain flat.
On a yearly basis, economic growth softened to 1.4 percent from 1.5 percent in the prior quarter. Nonetheless, the growth rate was better than the forecast of 1.2 percent.
The EU27 GDP grew 0.2 percent from the previous quarter and expanded 1.5 percent from the prior year.
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