Connect to share and comment

EU upgrades growth forecasts, sees recovery gaining ground

The European Union upgraded its economic forecasts Tuesday, betting that a modest recovery is now sustainable as member states push ahead with reforms. The 18-nation eurozone should grow 1.2 percent this year and 1.8 percent in 2015, up from previous estimates given in November for 1.1 percent and 1.7 percent, the European Commission said. Similarly, the full 28-member EU will expand 1.5 percent this year and 2.0 percent in 2015, also both revised up by 0.1 percentage point.

EU economic forecasts for 2014, 2015

The European Commission issued its latest economic forecasts for the 18-nation eurozone and the wider 28-member European Union on Tuesday. Here are the main figures for this year and 2015, with the Commission's previous estimates for 2014 and next year in brackets. The eurozone economy is expected to grow 1.2 percent this year, up 0.1 percent from the previous estimate given in November, and grow 1.8 percent in 2015, also a 0.1 percent rise on the 1.7 percent given earlier. Gross Domestic Product growth (percent rate)

EU upgrades growth forecast, sees recovery gaining ground

The European Union upgraded its economic forecasts Tuesday, betting that a modest recovery is now sustainable as member states push ahead with reforms. The 18-nation eurozone should grow 1.2 percent this year and 1.8 percent in 2015, slightly up from previous estimates given in November for 1.1 percent and 1.7 percent, the European Commission said. Similarly, the full 28-member EU will expand 1.5 percent this year and 2.0 percent in 2015, also both revised up by 0.1 percentage point.

Sweden set for highest budget deficit for two decades

Sweden will have its biggest public deficit for almost 20 years, according to government figures released on Thursday along with plans for tax rises seven months before an election. The Nordic country -- known for its budgetary prudence -- will have a deficit equivalent to 1.9 percent of output by the end of 2014. That compares with a deficit of 1.5 percent in 2013, according to the Swedish Ministry of Finance. The deficit will be the highest since 1996, when it reached 3.3 percent of gross domestic product in the wake of a deep economic crisis.

EU ministers make limited headway on new bank rules

EU finance ministers made only limited progress Tuesday to find a compromise with the European Parliament on how to wind up failing banks before they can damage the wider economy. Ministers discussed the idea of allowing some leeway in talks with Parliament, but Greece, as current holder of the EU presidency, "has no new mandate," Finance Minister Yannis Stournaras said. Going into the meeting, Stournaras warned that time was short and called for "some flexibility so that we can close the gap."

Stronger-than-expected Germany and France nudge up euro zone growth

By Martin Santa BRUSSELS (Reuters) - Slightly stronger-than-expected growth in Germany and France pushed the euro zone's recovery up a gear in the fourth quarter and offered potential for a more robust 2014, albeit with risks. Data on Friday showed the euro zone economy rose by 0.3 percent in the three month to December compared with the previous quarter. This slightly exceeded market expectations for a 0.2 percent expansion.

Eurozone growth at top end of forecasts

The eurozone economy grew 0.3 percent in the fourth quarter of 2013, enough of an improvement on 0.1 percent in the previous quarter to suggest that modest recovery remains on track, official data showed on Friday. Analysts had expected a gain of 0.2-0.3 percent. In the wider European Union, the economy expanded 0.4 percent, after 0.3 percent in the third quarter, the Eurostat statistics agency said. Compared with fourth quarter 2012, the then 17-nation eurozone economy expanded year-on-year by 0.5 percent, with the EU up 1.0 percent.

Eurozone grows 0.3% in Q4

The eurozone grew 0.3 percent in the fourth quarter of 2013, enough of an improvement on 0.1 percent in the previous quarter to suggest that modest recovery remains on track, official data showed on Friday. Analysts had expected a gain of 0.2-0.3 percent. In the wider European Union, the economy expanded 0.4 percent, after 0.3 percent in the third quarter, the Eurostat statistics agency said. bmm/ccr/hd

Euro zone recovery accelerates more than expected in fourth quarter

BRUSSELS (Reuters) - The euro zone economy grew more than expected in the last quarter of 2013 thanks to stronger expansion in its biggest countries France and Germany, the first estimate from the European Union's Statistics Office showed on Friday. The economy of the 17 countries that shared the single currency in the last quarter rose 0.3 percent in the three months to December against the previous three months, after a 0.1 percent rise in the third quarter.

Eurozone industrial output falls in December

Eurozone industrial output turned lower in December after a sharp upturn in November had encouraged hopes that a modest economic recovery was gaining momentum, official figures showed on Wednesday. Industrial output in the then 17-nation eurozone fell 0.7 percent in December compared with November, when it rose a revised 1.6 percent, the Eurostat Statistics office said. November was first given as an increase of 1.8 percent. Analysts polled by Dow Jones Newswires had expected a December downturn of about 0.3 percent.
Syndicate content