Eurozone economy posts stable growth in Q4
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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