A woman checks clothes in a street market in Rome, Italy, August 11, 2016. REUTERS/Max Rossi
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Eurozone economic growth halved in the second quarter to a modest pace, as a mild slowdown in Germany was overshadowed by a surprise stagnation in Italy, offering scant hope of a decisive rebound for the currency bloc as a whole any time soon. The 0.3 percent quarterly expansion, or 1.6 percent annual pace, matched expectations in a Reuters poll of economists and showed the eurozone already slowing ahead of Britain's shock June 23 vote to leave the European Union.In the biggest economy, Germany, gross domestic product grew 0.4 percent, double the 0.2 percent expected in a Reuters poll and marking a 3.1 percent pace compared with the same period last year – the strongest annual figure in five years.In Italy, the eurozone's third-largest economy, there was no growth at all in the second quarter, as industry and domestic demand flagged.
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