Hungary's economy shrank 0.9% in the fourth quarter as the eurozone recession deepened.
LONDON (CNNMoney)
Gross domestic product in the 17-nation euro area fell by 0.6% in the fourth quarter, leaving the eurozone economy 0.5% smaller than it was at the start of the year. The region saw a contraction of 0.1% in the third quarter.
All four of the region's biggest economies -- Germany, France, Italy and Spain -- saw their performance deteriorate compared to the third quarter of 2012.
Germany, which accounts for about 30% of eurozone GDP, suffered a contraction of 0.6% and France's economy shrank by 0.3%. Both economies had eked out modest growth in the previous quarter.
"The decline of the gross domestic product at the end of 2012 was mainly due to the comparably weak German foreign trade: in the final quarter of 2012, exports of goods went down much more than imports of goods," the German statistics office said in a statement.
Related: Europe's central banks stand firm on policy
French data showed the region's second biggest economy flat-lining over the year as a whole. France also suffered a sharp fall in exports in the fourth quarter, down 0.6% after growth of 0.7% in the third.
Weaker growth is likely to make it harder for eurozone governments to meet their debt-cutting targets and intensify the debate about the impact of a strong euro on the region's recovery prospects.
With fiscal and monetary policy tightening, exports offer one of the few opportunities for the recession-ravaged region to return to growth.
First Published: February 14, 2013: 5:45 AM ET
Anda sedang membaca artikel tentang
Europe's recession deepens as exports suffer
Dengan url
https://ponselkuirit.blogspot.com/2013/02/europes-recession-deepens-as-exports.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Europe's recession deepens as exports suffer
namun jangan lupa untuk meletakkan link
Europe's recession deepens as exports suffer
sebagai sumbernya
0 komentar:
Posting Komentar