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Regular Industry Development Updates, Opinions and Talking Points relating to Manufacturing, the Supply Chain and Logistics.

Eurozone growth at six-year high – yet concerns linger…

01-Nov-2017
David Johnson (pictured)
Director, Halo Financial
Eurozone growth at six-year high – yet concerns linger…
Away from the Spanish political crisis, there is welcome good news for the Eurozone today, where the economy has risen 2.5% in the last year, a six-year high.

Growth in the 19-nation Eurozone in the third quarter reached 0.6%, Eurostat the European Union statistics office has announced. At the same time, the French economy rose 0.5% from July-September, pushing its annual growth to 2.2%, separate figures show.

However, there has been a sluggish response in the currency markets, with the Euro showing minimal gains.

David Johnson, founding director of Halo Financial, explains, “The result is good news for Europe, as it was the strongest performance since the financial crisis. However, there are a few issues that are causing concern.

“The Spanish political crisis is ongoing and the European Central Bank (ECB) would like to see inflation, which fell back 0.1% in October to 1.4, rise to around 2%.


“In addition, even though unemployment reached at an eight-year low of 8.9% in September 2017, economists would like it to be even lower.”

The improvement in the French economy, Europe’s second largest economic contribution, was down to increased investment and household consumption, says statistics agency, INSEE.

Consumer spending rose 0.5% in the third quarter, 0.2% up on the previous quarter and investment increased 0.8%. France is aiming for 1.8% growth in 2017.

The Euro Area includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.

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