Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Eurozone Growth Fell Sharply in 2018; Italy Slips Into Technical Recession

share with twitter share with LinkedIn share with facebook
share via e-mail
0
01/31/2019 | 05:40am EDT

By Paul Hannon

The eurozone economy grew at the weakest pace in four years during 2018, fueling growing concerns that the strength of the global expansion is faltering across several major countries, a worry underlined by preliminary GDP data released Thursday showing that Italy slipped into a technical recession.

The European Union's statistics agency on Thursday said economic growth in the 19 countries that use the euro was 1.8% last year, down from 2.4% in 2017, which was its strongest performance in a decade. However, there was a slightly pickup in the final three months of the year, as gross domestic product rose at an annualized rate of 0.9% compared with 0.6% in the three months through September.

That pickup was aided by Spain, where growth accelerated slightly as the year drew to a close. But the outlook for 2019 is for slower growth, with the German government on Wednesday slashing its growth forecast for the year to 1% from 1.8%, pointing to mounting geopolitical and trade risks.

The eurozone economy was hampered by a weakening of exports in 2018, driven by Turkey and the U.K., with Chinese demand also easing.

The Italy GDP figures showed that the Italian economy contracted in the final three months of last year, the second straight quarter of declining output.

That was partly due to a monthslong standoff between the government and the EU over plans to increase its budget deficit, which pushed borrowing costs higher and dented business and consumer confidence.

EUR/USD dropped after the eurozone data, falling to 1.1478 from 1.1491 beforehand.

Write to Paul Hannon at paul.hannon@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
EURO / US DOLLAR (EUR/USD) 0.03% 1.10178 Delayed Quote.-3.68%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news "Economy & Forex"
07:17pMINISTRY OF FOREIGN AFFAIRS OF REPUBLIC OF KAZ : C5+1 Ministerial Meeting was held in New York
PU
06:56pINDONESIAN INVESTIGATORS DETERMINE 737 MAX DESIGN FLAW AND OVERSIGHT LAPSES IN LION AIR CRASH : Wsj
RE
05:29pGOLD MINERS, INDIA, FED : This Week's Top Financial Tweets - Week 38
05:04pTAKE FIVE : U.S. money market ruckus - one-off or warning?
RE
04:47pUNDP UNITED NATIONS DEVELOPMENT PROGRAMME : Germany, UK and Insurance Development Forum announce commitments to increase insurance protection in climate-exposed countries in line with the InsuResilience Vision 2025 goals
PU
04:44pSHELDON ADELSON : Wsj
RE
04:07pNASUWT NATIONAL ASSOCIATION OF SCHOOLMASTERS : welcomes Labour's commitment to retain an independent national education inspectorate
PU
04:07pITU INTERNATIONAL TELECOMMUNICATION UNION : Global internet growth stalls and focus shifts to ‘meaningful universal connectivity' to drive global development
PU
02:15pU.S. Banks Shun United Nations Responsible Banking Campaign
DJ
02:11pECONOMY WEEK AHEAD : Eurozone PMI, Durable Goods, Household Spending
DJ
Latest news "Economy & Forex"