FOREX TradingCharts.com

Financial News: Eurozone Economy Shrinks In Q4

Eurozone Economy Shrinks In Q4

02/02/2021 - 07:19:00 (RTTNews)

(RTTNews) - Due to the restrictions related to Covid-19, the euro area economy contracted in the fourth quarter after bouncing back in the preceding three months, preliminary flash estimate published by Eurostat showed on Tuesday.

Gross domestic product fell 0.7 percent sequentially, in contrast to a sharp growth of 12.4 percent logged in the third quarter. However, the pace of contraction was less than the economists' forecast of -1 percent.

On a yearly basis, the economy shrank 5.1 percent, bigger than the 4.3 percent decline seen in the third quarter and economists' forecast of -5.4 percent.

In the whole year of 2020, the euro area GDP was down 6.8 percent, data showed.

With strict containment measures still necessary to control the virus, and vaccination programmes progressing slowly, activity across the region will remain very subdued for some time, Jack Allen-Reynolds, an economist at Capital Economics, said.

Last month, the International Monetary Fund downgraded Eurozone's growth forecast for this year to 4.2 percent from 5.2 percent. The single currency economy is forecast to expand 3.6 percent in 2022.

The EU27 GDP dropped 0.5 percent sequentially in the fourth quarter and shrank 4.8 percent from the same period last year.

Among the member states, for which data are available for the fourth quarter, Austria reported the biggest decline of 4.3 percent, followed by a 2 percent fall in Italy and a 1.3 percent drop in France.

Meanwhile, Germany managed to grow 0.1 percent and Spain expanded 0.4 percent in the fourth quarter.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Australia Private Capex Climbs 3.0% In Q4 (42 min(s), 44 sec(s) ago)
(RTTNews) - Private capital expenditure was up 3.0 percent on quarter in the fourth quarter of 202 ...Full Story»

South Korea Interest Rate Decision On Tap For Thursday (27 min(s), 44 sec(s) ago)
(RTTNews) - The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announ ...Full Story»

U.S. New Home Sales Spike Much More Than Expected In January (17 min(s), 44 sec(s) ago)
(RTTNews) - Data released by the Commerce Department on Wednesday showed a much bigger than expect ...Full Story»

Latvia Jobless Rate Falls In Q4 (36 min(s), 44 sec(s) ago)
(RTTNews) - Latvia's unemployment rate decline in the fourth quarter, figures from the Central ...Full Story»

Croatia Consumer Prices Continue To Decline (17 min(s), 44 sec(s) ago)
(RTTNews) - Croatia's consumer prices continued to fall in January, figures from the Croatian ...Full Story»

Austria Manufacturing Sector Growth Fastest In 3 Years (11 min(s), 44 sec(s) ago)
(RTTNews) - Austria's manufacturing sector grew at the fastest pace in three years in February ...Full Story»

Slovenia Output Prices Rise In January (05 min(s), 44 sec(s) ago)
(RTTNews) - Slovenia's output prices rose in January, figures from the Statistical Office of t ...Full Story»

German GDP Growth Exceeds Estimate On Investment, Exports (46 min(s), 44 sec(s) ago)
(RTTNews) - The German economy grew more than initially estimated in the fourth quarter driven by ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Australia Private Capex Climbs 3.0% In Q4

02/24/2021 - 19:45 PM (RTTNews)
(RTTNews) - Private capital expenditure was up 3.0 percent on quarter in the fourth quarter of 202 ...Full Story>>

South Korea Interest Rate Decision On Tap For Thursday

02/24/2021 - 17:30 PM (RTTNews)
(RTTNews) - The Bank of Korea will wrap up its monetary policy meeting on Thursday and then announ ...Full Story>>

U.S. New Home Sales Spike Much More Than Expected In January

02/24/2021 - 10:20 AM (RTTNews)
(RTTNews) - Data released by the Commerce Department on Wednesday showed a much bigger than expect ...Full Story>>

Latvia Jobless Rate Falls In Q4

02/24/2021 - 06:39 AM (RTTNews)
(RTTNews) - Latvia's unemployment rate decline in the fourth quarter, figures from the Central ...Full Story>>

Croatia Consumer Prices Continue To Decline

02/24/2021 - 06:20 AM (RTTNews)
(RTTNews) - Croatia's consumer prices continued to fall in January, figures from the Croatian ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.