Eurozone economy slumps 12.1% in second quarter

The eurozone economy slumped 12.1% in the second quarter, or a drop of 15% year-over-year, the Eurostat statistics agency said Friday. Eurostat separately said its flash estimate of annual inflation rose to 0.4% in July from 0.3% in June. The euro
EURUSD,
+0.05%
was steady on the day, trading at $1.1850.