Euro area GDP accelerates in the second quarter of 2017

Economic activity in the single currency bloc picked-up slightly in the second quarter of the year despite a slightly slower expansion in Germany, the region's largest economy.

Over the three months to the end of June, gross domestic product increased by 0.6% quarter-on-quarter, according to a 'flash' estimate from Eurostat.

That was in-line with economists' forecasts.

Versus the year-ago period, GDP was ahead by 2.2%, up from 1.9% in the previous quarter.

GDP in Germany slowed from a 0.7% clip in the first quarter to 0.6%, but was partially offset by a slight uptick in Spanish growth from 0.8% to 0.9%.

Ducth GDP also saw a big acceleration, with activity shooting higher by 1.5% on the quarter after an advance of 0.6% over the prior three-month stretch.

The rate of growth in France and Italy was identical to those seen in the prior quarter, at 0.5% and 0.4%, respectively.

In Portugal on the other hand growth slowed from the 1.0% pace observed in the first quarter of 2017 to just 0.2%.