Eurozone Q4 Economic Contraction Confirmed At 0.3%


06/03/2012 15:06 AST  RTT News

The Eurozone economy contracted as initially estimated in the fourth quarter, with the economic setback reflecting widespread weakness in spending, investment and foreign demand amid fiscal squeeze and debt woes.

Gross domestic product suffered a 0.3 percent reduction in the fourth quarter from a quarter ago, second estimates from Eurostat confirmed Tuesday. The first contraction since the second quarter of 2009, limited the annual growth to 0.7 percent.

In the third quarter, GDP grew 0.1 percent sequentially and advanced 1.3 percent from a year ago.

That said, European Economic Affairs Commissioner Olli Rehn said he sees signs of stabilization in the region.

For more on this Click Here

Global News
2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | News Archive
Most Viewed Companies
Ticker Price Volume
RIBL 17.99 151,302,340
SAGRINSURANCE 32.21 594,047
SABIC 105.12 4,624,790
ALMARAI 90.5 257,061
ALKHODARI 31.12 893,308
SPIMACO 48.52 619,575
AMANAINSURANCE 13.25 564,684
Recent News

Mashreq Puts its Customers at the Heart of Banking
Mashreq , one of UAE's leading financial and banking institutions, has once again been recognized for its commitment to excellence in customer satisfaction, winning five awards recently at the Annual

IIFM Seminar on Islamic Financial Markets held in Dubai
The International Islamic Financial Market (IIFM) held a specialized seminar on Islamic financial markets on the sidelines of its board meeting in Dubai. The seminar was hosted by Natixis Dubai Branc

Emaar Properties lifts Dubai index; other Gulf markets too edge up
Dubai’s Emaar Properties lifted the emirate’s bourse in early trade on Thursday after Amlak Finance, in which it has a large stake, said trading in its shares would resume next month. Other Gulf mark

Shanghai Composite surges 1.9% on stimulus rumor
Mainland China share market closed higher in volatile trade on Thursday, 21 May 2015, on speculation of more policy support from Beijing after weaker-than-expected flash Chinese manufacturing data. T

Hong Kong shares end 0.22% lower
Hong Kong stocks have eased 0.22 per cent following Wall Street losses, but mainland markets rallied after another weak reading on Chinese manufacturing activity raised hopes for further stimulus mea

GulfBase GCC Index
Search By
  • Company Symbol
  • Company Name
  • Mutual Fund Name
  • News Content
Send this page to a friend

Poll

Which of the following do you think is the best long-term investment?