The Q2 GDP growth was revised upwards to 0.9% quarter-to-quarter as private consumption increased 0.6% and public spending rose 1% compared with the first quarter.
Going forward, Euler Hermes expects private consumption will continue to expand at a good rate, goven the recovery in the labor market, the report reads,
The analysts also point out that weak numbers for China’s economy in Q3 may suggest a higher gowth in the final quarter of the year. Download the full report for the complete analysis of the major macroeconomic figures of the week in the world.