Eurozone economy shrinks in second quarter

The eurozone economy looks to have shown a quarterly contraction for the first time since the euro was introduced.

A flash estimate for second-quarter growth by Eurostat, the European Union's statistics bureau, showed euro area GDP growth to have fallen by 0.2% in the second quarter.

Worryingly, the German economy - the region's largest - was the worst performer shrinking by 0.5% following strong growth in the first quarter (1.3%). France and Italy, the region's second- and third-largest econom