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Eurozone economy posts stable growth in Q4

by ChemOrbis Editorial Team - content@chemorbis.com
  • 12/02/2016 (15:02)
According to flash data from the statistical office of the European Union (Eurostat), the eurozone economy grew 0.3% on a seasonally adjusted basis in the last quarter. The Q4 growth rate matched the growth rate in the previous quarter and it was in line with expectations of economists polled by the Wall Street Journal. In the whole of 2015, meanwhile, the region’s gross domestic product (GDP) expanded 1.5%.

Within the region, the German economy grew 0.3% in the fourth quarter in line with expectations, according to data from Germany’s Federal Statistics Office. Data also showed that the German economy expanded a seasonally adjusted 1.7% in the whole of 2015.

France’s economic growth slowed to 0.2% in the final quarter of 2015 compared with a growth rate of 0.3% in the third quarter while Italy’s gross domestic product expanded 0.1% on the quarter, falling below expectations which called for a growth rate of 0.3% for the quarter.

In a separate statement, Eurostat revealed that industrial production in the eurozone declined 1% in December compared with November. The decrease was driven by a 2.4% decline in energy production and a 1.9% drop both in production of intermediate goods and non-durable consumer goods.

Production of durable consumer goods, meanwhile, rose 1.4% on the month in December. On a yearly basis, the region’s industrial production declined 1.3% compared with the same month of 2014.

Across the region, the largest decreases in industrial production on a monthly basis were reported in Ireland (-4.3%), Lithuania and Sweden (both -3.3%) while the largest increases were seen in Denmark (+2.9%), the Netherlands (+1.5%) and Greece (+1.4%).
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