Arab Today, arab today good news for eurozone as germany france skirt recession
Last Updated : GMT 15:23:34
Arab Today, arab today
Arab Today, arab today

Good news for eurozone as Germany, France skirt recession

Arab Today, arab today

Arab Today, arab today Good news for eurozone as Germany, France skirt recession

German gross domestic product expanded
Frankfurt - AFP

The economic clouds over Europe appeared to lift slightly in the third quarter as its two biggest economies both narrowly escaped a new recession, official data showed on Friday.
In Germany, Europe's economic powerhouse, gross domestic product (GDP) expanded by 0.1 percent in the period from July to September, after shrinking by 0.1 percent in the preceding three months, the federal statistics office said.
And in Paris, a preliminary estimate by the INSEE agency showed the French economy grew by 0.3 percent in the third quarter, following a contraction of 0.1 percent in the second quarter.
Since recession is technically defined as two consecutive quarters of falling GDP, both France and Germany avoided a new recession.
In Germany's case, positive impulses came primarily from private households, which ramped up their spending strongly, Destatis said.
In addition, foreign trade also provided a support for the economy, with exports rising more strongly than imports, the statement said.
On the negative side, investment declined, particularly in equipment, and construction investment also slipped marginally.
A detailed breakdown of the different GDP components will be published on November 25, Destatis said.
In Paris, France's Finance Minister Michel Sapin said the French data confirmed the government's forecast of 0.4 percent growth for the full year.
"Economic activity has picked up slightly but remains too weak to ensure the job creation our country needs," Sapin said in a statement.
- Germany loses economic shine -
With growth in both countries still very modest, however, analysts were cautious about the outlook.
"Almost all the glamour of the second German 'Wirtschaftswunder' (economic miracle) seems to be gone," said ING DiBa economist Carsten Brzeski.
Data for the wider eurozone were scheduled for release later on Friday and the chances were that they will show that Germany underperformed the rest of the region, the expert said.
"Since early 2013 the German economy has grown by an average of 0.2 percent quarter-on-quarter each quarter, making the eurozone's powerhouse rather a one-eyed king in the land of the blind than an economic superman," he said.
Brzeski attributed the German weakness to problems in key trading partner countries such as China, France and Italy. But uncertainty stemming from the ongoing Ukrainian crisis was also another key factor, he said.
"In our view, the German economy is nowhere near any abyss. However, complacency or any trace of high-handedness would be misplaced. The trend of the last quarters signals that the German economy could use a new reform impulse rather sooner than later," he concluded.
- Rough patch, not crisis -
BayernLB econmist Stefan Kipar said the data "show that the German economy is not performing as badly as the sentiment indicators might suggest."
No big jumps could be expected during the winter months, "but at the end of the day, growth rates should remain positive."
Berenberg Bank economist Christian Schulz said the combined German and French data "point to a rough patch in the eurozone, not a renewed crisis."
Germany "may be stagnating as the Putin factor weighs on business investment, but strong consumption and exports highlight the fundamental strengths that should allow Germany to resume its role as economic engine of the eurozone next year," he said.
And France's "upside surprise highlights that the mood in France is worse than the economic reality."
Schulz said he was "optimistic that the eurozone can shake off the latest economic rough patch."
UniCredit analysts said in a research note that based on the data from Germany and France, "we still see eurozone GDP growing 0.2 percent in the third quarter."

 

arabstoday
arabstoday

GMT 13:55 2017 Wednesday ,20 September

Humble bicycle back in vogue in Cuba

GMT 13:19 2017 Wednesday ,20 September

European equities waver before Fed decision

GMT 12:57 2017 Wednesday ,20 September

UK retail sales surge in August, raises interest rate

GMT 11:03 2017 Wednesday ,20 September

US CEOs optimistic on economy, tax reform: survey

GMT 07:12 2017 Wednesday ,20 September

NAFTA talks moving at 'warp speed,' US trade rep

GMT 07:04 2017 Wednesday ,20 September

Brazil’s economy needs your prayers

GMT 17:06 2017 Tuesday ,19 September

EU firms want 'concrete action' from China on access
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today good news for eurozone as germany france skirt recession Arab Today, arab today good news for eurozone as germany france skirt recession

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today good news for eurozone as germany france skirt recession Arab Today, arab today good news for eurozone as germany france skirt recession

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan: experts

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan: experts
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday