Eurozone economy grew by 0.3 per cent in last quarter of 2014

  • 2/5/2023
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Luxembourg, Jumada I 15, 1436, Mar 6, 2015, SPA -- The eurozone economy showed signs of recovery in the last three months of 2014, with growth of 0.3 per cent compared to the previous quarter, the European Union's statistics office Eurostat said Friday, confirming preliminary estimates. According to dpa, the currency bloc emerged from recession in 2013, but has since struggled to kickstart its economy, with unemployment stubbornly high and inflation well below the European Central Bank's target. Germany, the eurozone's economic powerhouse, was among the countries with the biggest expansion, experiencing a 0.7-per-cent increase in gross domestic product (GDP) in the fourth quarter. At the opposite end of the spectrum, bailout recipients Cyprus and Greece saw their economies shrink by 0.7 per cent and 0.4 per cent respectively. On an annual basis, fourth-quarter GDP in the eurozone grew by 0.9 per cent according to Friday's figures, which confirm an initial Eurostat estimate released in mid-February. --SPA 14:08 LOCAL TIME 11:08 GMT www.spa.gov.sa/w

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