Hungarian economy slows as eurozone preparations bite
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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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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 economy is still caught between slowing growth and stubborn inflation pressures, new government reports showed Tuesday.
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New data shows third-quarter slowdown in euro-zone growth
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Eurozone growth falls by more than half between April and June 2007, official EU figures show.
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France's economy slows by more than expected in the third quarter, the latest data to raise question marks over growth in the eurozone.
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A report released in Brussels on Friday showed a slowdown of economic growth in the 12-nation eurozone due to record high oil prices and the euro&#39;s sharp rise against the US dollar.
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Confidence in the European economy fell slightly in December but not by as much as economists had expected in the eurozone, a European Union survey showed Monday.
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Eurozone economic confidence sinks to a near two-year low as orders weaken and inflation stays high.
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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 widely watched barometer of future economic activity edged lower in September for the fourth month in a row, suggesting a slowing in economic growth, a private research group said Thursday.
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A key indicator of near-term German economic performance plunged this month to its lowest reading since January 2003 against the backdrop of a rising euro and amid increasing signs of a cooling off in economic activity.
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The Indian economy is likely to be in the grip of inflationary pressures in the coming months even as its growth slows down, according to projections issued by the Reserve Bank of India.
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The Hungarian central bank reduced its key interest rate by half a percentage point to 9.0 percent, saying inflation was falling but warning of a high public deficit that threatens Hungary's chances of adopting the euro by 2010.
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European markets remain down as the prospects of a Fed style rates cut in the eurozone and Britain remains dim.
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The euro sank to a near-three week low  against the dollar and stocks eased on Wednesday after data  showed sluggish growth in euro zone services.
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Eurozone indicators to be released this week will show that inflation was slightly lower than initially estimated in October and that industrial output recovered in September, economists said.