Eurozone Economies Grow Beyond Projections

August 13, 2010

The European Union says the economies of the 16 nations using the euro currency grew at a better than expected pace in the second quarter.

Eurostat says the euro zone economies expanded by 1 percent over the first quarter. The jump represented a nearly two percent increase over the same period last year.

The upswing outpaced that of the United States.

Analysts say the euro economy was boosted by 2.2 percent growth in the German economy for the second quarter. Germany's surge, its biggest in 23 years, was aided by sales in the construction industry and an increase in exports.