Eurozone growth at 0.4% in Q4 of 2007

Analysis

Economic growth in the eurozone was 0.4% in Q4 of 2007 against the previous quarter, according to new figures released by the European Union (EU)'s statistics bureau Eurostat.

It slowed down from the previous quarter, when the eurozone economy grew by 0.7%, a clear sign that financial turmoil, rising oil prices and the US

economic woes were taking their toll on the economy of the now 15-nation bloc sharing the same currency.

In the quarter, household final consumption expenditure decreased by 0.1% quarter on quarter in the eurozone, after an increase of 0.5% in the previous three months. Investment increased by 0.8% after a rise of 1.1% in the previous quarter. Growth of exports also decelerated from 2.0% to 0.6%.

For the whole year of 2007, the eurozone economy grew by 2.6%, compared to 2.8% in 2006.

In the 27-nation EU, economic growth in the fourth quarter of 2007 was 0.5% compared with the previous quarter and 2.5% year on year, after 0.8% and 2.9% in the previous quarter.

Over the whole year of 2007, the EU economy grew by 2.9%, down from 3.1% in 2006. (Xinhua)

ADVERTISEMENT

Czech economic confidence weakens in July Analysis

Czech economic confidence weakens in July

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.