Euro zone growth slows sharply
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Euro zone economic growth slumped to its slowest pace for more than a year in the third quarter, prompting economists to warn the European Central Bank (ECB) against any monetary tightening in the near term.
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The euro zone trade surplus shrank to â¬5.5 billion in October from â¬9.1 billion in October last year but was up from â¬2.5 billion recorded in September, the statistics office Eurostat said today.
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Good news has been in short supply for Europe&#39;s traditional industrial economies like Germany and France. Growth remains weak, unemployment high, labor markets are still rigid and the euro is soaring, pricing their exports out of the market.
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Fears of an economic slowdown in Europe deepened on Friday, after the release of weaker-than-expected data and another record in the euroâs relentless rise against the dollar.
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German software maker SAP said a stronger euro significantly slowed the growth of its revenue and profits during the third quarter.
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Economic growth slowed sharply in the third quarter to its weakest level since the run-up to last year&#39;s Iraq war, reinforcing expectations the Bank
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The Hungarian economy showed signs on Friday of sharp slowing in response to austerity measures to prepare for entry into the eurozone.
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The European Commission will next month lower its eurozone growth projections, but the EU is not facing a recession, European Commission President Jose Manuel Barroso said Tuesday.
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Euro zone manufacturing expanded at its slowest pace in seven months in September, as the global economic slowdown knocked demand for exports and high oil prices inflated firms&#39; costs, a survey of some 3,000 firms showed.
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The German economy, the biggest in the 12-country eurozone, nearly came to a standstill in the third quarter as exports, previously the main driving force behind growth, slumped on the back of slowing global growth, official figures showed.
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LONDON, November 11  - Germany witnessed a slowdown in its economic growth momentum during the third quarter this year, with the nation&#39;s GDP growth rate declining to 0.1% from the relatively robust growth rate of 0.4% in the first two
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Europe's fragile recovery is being held back by the surge in world oil prices, which is limiting growth and threatening to stop key eurozone economies from restoring order to their public finances, analysts say.
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German economic growth slowed sharply in the third quarter as exports weakened and oil prices surged, raising fears that eurozone GDP figures due Friday will be lower than expected.
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Germany, the largest eurozone economy, lowered its 2008 growth forecast Thursday to 2.0 percent from 2.4 percent and its economy minister warned that fallout from a banking crisis could do more damage still.
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The economy of the 12 nations sharing the euro grew at the slowest pace in more than a year in the third quarter as record oil prices crimped global demand, prompting the European Commission
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German software maker SAP AG said a stronger Euro significantly slowed the growth of its revenue and profits during the third quarter.
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Eurozone economic confidence sinks to a near two-year low as orders weaken and inflation stays high.