Eurozone Q4 Economic Contraction Confirmed At 0.3%


06/03/2012 15:06 AST

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

RTT News
Global News
2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | News Archive
Most Viewed Companies
Ticker Price Volume
QNBK 127 470,450
ETISALAT 17.15 1,265,926
GFH 0.6
EMIRATESNBD 8 953,900
DAMAC 3.04 4,480,836
BKMB 0.38 792,872
SABIC 102.33 6,566,984
Recent News

Maaden announces new Vice Chairman
The Saudi Arabian Mining Company (Maaden) announces the Board of Directors decision on June 21, 2017 of appointing H.E. Sulaiman Bin Abdulrahman Al-Gwaiz (non-executive member) as the Vice Chairman f

QNB sees minimal impact from standoff
Qatar National Bank said it expects to meet its earnings targets as the ongoing Saudi-led campaign to ‘isolate’ the country has minimal impact on its operations.

The Middle East’s largest le

Egypt seeks FDI boost as its economy struggles
Egypt’s investment ministry has finalised a much-anticipated set of regulations outlining incentives that it hopes will lure back badly needed foreign investors, Investment Minister Sahar Nasr told R

Qatar bourse says Gulf institutions dumped Qatari shares
The Qatar Stock Exchange on Wednesday said it believed some institutional investors from Saudi Arabia, the UAE and Bahrain dumped shares to drive down the Qatari stock market in the wake of the diplo

UAE banks clear $175bn cheques in 5 months
A total of 12.922 million cheques worth Dh643.7 billion ($175 billion) were handled by the UAE Clearing Cheque System during the first five months of 2017, according to the UAE Central Bank data.

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

Poll

Looking ahead, what change you are more likely to make in investing in your domestic stock market?