The French and Spanish economies grew at a sustained pace in the second quarter on the back of stronger exports and tourism, statistics agencies said on Friday, auguring a possible euro zone rebound.
quarter a faster-than-expected 0.5% from the preceding quarter, while the Spanish economy grew 0.4%, according to data from INSEE and INE, as the French and Spanish statistics agencies are respectively known.
"We see that for the first time, French growth is driven by exports, by corporate investment much more than by household consumption," Finance Minister Bruno Le Maire told RTL radio.The data from French and Spanish economies, respectively the euro zone's second- and fourth-largest, bode well after the euro zone'sThe French economy sped up from a revised 0.1% in the first quarter, INSEE said in its quarterly GDP report.
"The economic policy works, as the strong growth, job creation and price stability show," Economy Minister Nadia Calvino said on the Telegram social media platform.
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