Eurozone GDP grew 0.3 per cent in the fourth quarter of 2014

first_img whatsapp Tags: Eurozone Emma Haslett Eurozone GDP grew 0.3 per cent in the fourth quarter of 2014 More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com After a fractious few days for Eurozone leaders, this should come as a relief: a growth in the 18-nation bloc rose to 0.3 per cent in the final quarter of 2014, a preliminary estimate showed this morning, beating analyst estimates of 0.2 per cent. Eurostat, the region’s official statistics authority, said that puts total growth in 2014 up to 0.9 per cent, just beating expectations of 0.8 per cent growth. Growth in the EU28, which includes the UK, hit 0.4 per cent, up from 0.3 per cent in the previous quarter. Over the full year, growth hit 1.4 per cent.Figures out earlier this morning showed German growth jumped to 0.7 per cent during the quarter, from 0.1 per cent during the fourth quarter. Meanwhile, French GDP rose a less encouraging 0.3 per cent. Despite the better-than-expected figure, though, it is nonetheless anaemic. Last month it slipped further into deflation, with prices falling 0.6 per cent, down from a 0.2 per cent fall in December.At the time, analysts suggested the figure “fully vindicated” the European Central Bank’s (ECB) decision to launch a t €1.2 trillion bond-buying programme. However, rock-bottom oil prices are still causing concern.Today Howard Archer, chief UK and European economist at IHS Global Insight, pointed out that oil prices will lead to a “markedly weaker euro”.  Appreciable stimulus is now coming from very weak oil prices, a markedly weaker euro and increasingly accomodative monetary policy, which will now be supplemented by the ECB’s Quantitative Easing program. The marked retreat in the euro to recently hit an 11-year low of US$1.1098 is very helpful for Eurozone competitiveness and growth prospects while the appreciable retreat in oil prices to a recent near six-year low of US$45.2/barrel are helping companies’ margins as well as consumers’ purchasing power. Furthermore, markedly lower oil prices should be helpful overall to global growth prospects, which would benefit Eurozone exports in tandem with the weaker euro.Greek tragedyMeanwhile, Greek GDP contracted 0.2 per cent, a disappointing performance considering analysts had expected growth of 0.2 per cent. The figures followed days of negotiations among Eurozone leaders, as Greece’s new anti-austerity Prime Minister Alexis Tsipras sought to cancel its bailout deal. Last night German leader Angela Merkel remained firm on the point that “Europe’s credibility depends on us sticking to rules”, although she added that a compromise was possible. Show Comments ▼ whatsapp Friday 13 February 2015 5:04 am Sharelast_img

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