* * *  Euro area developments and outlook The euro area economy has expanded at a slower pace since the beginning of last year, marking a sizeable moderation in the pace of economic expansion. According to the latest Eurostat release, quarterly GDP growth was 0.2% in the second quarter of 2019.
This slowdown in growth mainly reflects the prevailing weakness of international trade in an environment of prolonged global uncertainties, which are particularly affecting the euro area manufacturing sector. These developments are also reflected in economic sentiment indicators that have continued to worsen over recent months.