Eurozone growth slows slightly in second quarter
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Growth in the eurozone economy slowed slightly to 0.5 percent in the second quarter and is set to maintain roughly that pace for the rest of the year, the European Commission said Tuesday.
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A small contraction in the German economy helped hold growth in the 12-member euro zone to 0.2 percent in the fourth quarter, according to official figures released Tuesday.
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Eurozone economic growth slowed in the three months to the end of September, revised official figures show.
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The European Central Bank will probably keep its benchmark interest rate at 2 percent this week amid evidence that economic growth in the 12-nation region is slowing, 40 economists surveyed by Bloomberg News said.
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Growth of the US economy slowed to an annual rate of 2.8 percent in the second quarter of this year, lower than the 3.0 percent rate previously estimated, the US Commerce Department reported on Friday.
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Business growth slowed to a 2.2 percent pace in the late summer, a much better performance than anticipated and an encouraging sign that the housing slump hasn't significantly dragged down the economy.
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US economic growth slowed more than expected in the second quarter of 2006, revised official data says.
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AustraliaÂs economy grew at its slowest pace in three years in the second quarter as higher interest rates and record fuel prices curbed consumer spending. The gross domestic product rose 0.3 percent from the first quarter, the Bureau of Statistics said. Consumer spending slowed, rising 0.6 percent in the second quarter after increasing 0.9 percent in the first quarter, the report showed. A drop in inventories subtracted 0.7 percentage point from growth in the quarter, and net exports subtracted 0.2 percentage point from growth. First-quarter growth was revised lower to 0.7 percent from 0.9 percent. Also, the Reserve Bank of Australia left its benchmark interest rate unchanged at 6 percent.
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The nation's economy grew at its slowest pace in more than a year in the second quarter, weighed down by rising energy prices and slipping exports.
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The growth of the euro-zone economy slowed in the final quarter of 2004 as Germany, the Netherlands, Italy and Greece each experienced a contraction in output, European Union data showed Tuesday.
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Official figures show the 12-nation eurozone economy continues to grow, but there are warnings it may slow down later in the year.
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A slowdown in US economic growth during the second quarter was not as sharp as previously thought, the Commerce Department reported today.
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The US gross domestic product grew only 2.2 percent last quarter.
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The British economy has grown at a slower pace than previously thought during the second quarter, owing to weak output from health and gambling sectors.
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The European Central Bank leaves eurozone interest rates on hold at 2%, and upgrades its economic growth forecasts.
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The U.S. economy grew slightly better than first estimated in the first quarter, but still at the weakest pace in more than four years and inflation grew as well, data on Thursday showed.
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BRUSSELS, Belgium  - The growth of the euro-zone economy slowed in the final quarter of 2004 as Germany, the Netherlands, Italy and Greece each experienced a contraction in output, European Union data showed Tuesday.