Tags: Euro | Zone | Growth | Stall

Euro Zone Growth Stalled in Fourth Quarter: Data

Wednesday, 07 Apr 2010 02:16 PM


Euro zone growth stalled in the last quarter of 2009, revised data showed on Wednesday, underlining the continued fragility of economic recovery.

The European Union's statistics office said growth in the economy of the 16 countries using the euro was zero quarter-on-quarter in the October-December period, rather than the previously reported 0.1 percent expansion.

Year-on-year the economy contracted 2.2 percent, more than the previously estimated 2.1 percent, Eurostat said.

The numbers turned out weaker than expected mainly because the recession in Italy was deeper than previously thought. The economy there shrank 0.3 percent rather than 0.2 percent quarter-on-quarter.

Growth in the Netherlands was 0.2 percent rather than the previously reported 0.3 percent on the quarter.

Portugal, where growth was previously reported to have been zero on a quarterly basis, had a contraction of 0.2 percent.

Only exports and inventory growth prevented the euro zone from slipping back into negative growth as the contribution to the quarterly number from government and household consumption was zero, and investment subtracted 0.3 percentage point.

The positive contribution from inventories was 0.1 percentage point and the net contribution from trade was 0.2 percentage point.

Separately, Eurostat said prices at factory gates in the euro zone rose 0.1 percent month-on-month in February, as expected by economists polled by Reuters, for a 0.5 percent year-on-year fall.

Economists had expected a 0.4 percent annual fall.

© 2015 Thomson/Reuters. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Mali's Islamists Withdraw Cease-Fire Pledge

Friday, 04 Jan 2013 13:06 PM

Tens of thousands of Fatah supporters rallied in the Hamas stronghold of Gaza on Friday for the first time since they we . . .

Fmr. CIA Director Hayden: Iran Nuclear Crisis Gets 'Scarier'

Tuesday, 17 Jul 2012 18:11 PM

 . . .

Join Fmr. CIA Director for Special Iran Briefing, Assess the Danger

Friday, 13 Jul 2012 12:27 PM

 . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved