News: #EU rozone growth gro #UN d to a standstill in the second quarter, official data showed on Thursday, dragged lower by Germany and France, the currency blocs biggest economies. #EU rostat said the 18-nation #EU rozone turned in zero growth in the three months to J #UN e. That fell short of analysts forecasts for 0.2-percent expansion, with growth across the 28-nation #EU ropean #UN ion up only 0.2 percent. The data is bad news for the overall outlook for the world economy as well, since the #EU rozone is an important component of global activity and trade. The #UN expectedly low growth figure was mainly the result of a surprise 0.2-percent shrinkage in Germany, #US ually the reliable #EU rozone growth engine, and stagnation in an already fragile French economy. But Italy, which has already reported contraction of 0.2 percent, also added to problems in the #EU rozone, while Spain disappointed with growth of 0.6 percent. Analysts expected growth to accelerate later in the year, but with geopolitical tensions in #UK raine enduring, worries are now that a fragile recovery in the #EU rozone may be in danger. It now looks very likely that GDP (gross domestic product) growth for the whole of 2014 will remain below 1.0 percent, said analyst Peter Vanden Houte of ING Bank. France downgraded its outlook for the year by half on Thursday, to 0.5 percent instead of 1.0 percent. The strongest quarterly growth across the #EU occurred mainly in the east, with Latvia showing growth of a full percentage point and H #UN gary growing by 0.8 percent. . #hk #hknews
Posted on: Thu, 14 Aug 2014 17:37:28 +0000
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