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Image header Agence Europe
Europe Daily Bulletin No. 11149
Contents Publication in full By article 17 / 27
ECONOMY - FINANCE - BUSINESS / (ae) economy

Zero growth in the eurozone in second quarter of 2014

Brussels, 05/09/2014 (Agence Europe) - Economic growth ground to a halt in the eurozone in the second quarter of 2014 following a slight rise of 0.2% in the first quarter, according to the European Union's statistical office, Eurostat, on Friday 5 September. Growth in the EU28 was 0.2% in the second quarter, following a rise of 0.3% of GDP in the first quarter. A slight rise in household consumer spending (0.3%) helped achieve the 0.2% growth figure. Corporate investment fell by 0.3%, contributing -0.1% to the growth figure. The eurozone economies with the greatest growth in the second quarter were Malta (+1.3%) and Latvia (+1%). Germany and Italy each registered a decline of 0.2% of GDP, with zero growth in France. On Thursday, the European Central Bank revised its growth forecasts for the eurozone for 2014 down to 0.9% (from 1% in previous estimates). The European Commission is expected to follow suit in its Autumn Economic Forecasts. (EL)