The euro zone eked out growth in the final three months of 2022, avoiding a recession even as sky-high energy costs, waning confidence, and rising interest rates took a toll on the bloc's economy. #News #Reuters #newsfeed #EU #Economy Subscribe: Reuters brings you the latest business, finance and breaking news video from around the globe. Our reputation for accuracy and impartiality is unparalleled. Get the latest news on: Follow Reuters on Facebook: Follow Reuters on Twitter: Follow Reuters on Instagram: ...(read more)
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The euro zone economy has managed to avoid a recession, with the surprise growth in the fourth quarter of 2019, according to data from Eurostat, the European Union's statistical agency. The economy of the 19-country bloc grew by 0.1 percent between October and December. This may seem like a small increase, but it was a significant improvement compared to the previous quarter, when the economy showed no growth at all. This growth, however, fell short of analysts' expectations of a 0.2 percent growth. The recovery was thanks to improved domestic demand and an upsurge in government spending, which offset a decline in exports. It also helped that the manufacturing sector, which had been hit particularly hard in recent months, showed signs of improvement towards the end of last year. Germany, the largest economy in the euro zone, managed to avoid another quarter of contraction, posting a 0.0 percent growth rate. France, the second-largest economy, grew by 0.1 percent. This was offset by Italy, the third-largest economy, which contracted by 0.3 percent. The unexpected growth was welcome news for the Eurozone, which had been facing fears of a recession due to the ongoing trade tensions between the United States and China, and the uncertainty surrounding Brexit. The European Central Bank (ECB) had taken measures to try and stimulate the economy, including cutting interest rates and buying up government bonds. In addition, the ECB's new president, Christine Lagarde, has called for more fiscal stimulus from member countries to support the economy. Despite the recent growth, there are still concerns about the euro zone's long-term economic prospects. The IMF has warned that the bloc faces a number of challenges, including high levels of public debt and weak productivity growth. In addition, there are political challenges that could potentially affect the economy in the future, such as the ongoing Brexit negotiations and uncertainties surrounding other countries like Italy. Overall, however, the surprise growth in the fourth quarter is a positive development for the euro zone. It is hoped that this momentum will continue into 2020, and that member countries will work together to address the challenges facing the bloc. https://inflationprotection.org/euro-zone-experiences-unanticipated-expansion-avoids-downturn/?feed_id=85184&_unique_id=642efcbfa2aed #Inflation #Retirement #GoldIRA #Wealth #Investing #Bloomberg #breakingnews #business #Europe #headlines #Macromatters #Markets #marketstoday #news #newstoday #reuters #reutersyoutube #thomsonreuters #TopNews #RecessionNews #Bloomberg #breakingnews #business #Europe #headlines #Macromatters #Markets #marketstoday #news #newstoday #reuters #reutersyoutube #thomsonreuters #TopNews
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