Eurozone economy grows 0.3% by end of 2014: EurostatFebruary 13, 2015 - 15:38 AMT PanARMENIAN.Net - The eurozone economy grew by a stronger-than-expected 0.3% in the last three months of 2014, figures show, according to BBC News. European statistics agency Eurostat also said gross domestic product (GDP) in the currency bloc rose by 0.9% across 2014 as a whole. Figures released earlier showed Germany's economy - the largest in the eurozone - grew by 0.7% in the three months to the end of December. But France's economy grew by just 0.1% in the same period. While Germany's economy shrank 0.1% in the third quarter of last year, strong domestic demand helped it to regain momentum in the fourth quarter, the Federal Statistical Office said. The economy grew by 1.6% during 2014. An analyst described Germany's growth as "a thunderbolt", with recovery starting earlier than expected. Berenberg Bank economist Christian Schulz suggested cheaper oil, a weaker euro exchange rate and government bond buying by the European Central Bank (ECB) should all help the German economy and "more than offset the serious short-term risks such as Greece and Russia". "While the first half of 2015 could still be a little more subdued due to these risks, we expect German growth to reach trend levels a bit above 2% in the summer 2015." Meanwhile, France's anaemic fourth quarter growth meant the economy expanded by just 0.4% over 2014 as a whole. "It's obviously still too weak, but the conditions are ripe to permit a cleaner start of activity in 2015," said French Finance Minister Michel Sapin. Of the 18 member states of the eurozone only three recorded a contraction in their economy: Greece, Finland and Cyprus. In the case of Greece the 0.2% contraction in the economy in the fourth quarter came after three consecutive quarters of growth. Related links: Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | The Power of One Dram to benefit Road of Life charity The companies inform that the May beneficiary of The Power of One Dram is the “Road of Life” charitable organization. Ucom General Director gives lecture at French University in Armenia The General Director of Ucom Ralph Yirikian delivered a lecture at the French University of Armenia. Kazakhstan welcomes Yerevan, Baku’s agreement to meet in Almaty Kassym-Jomart Tokayev has welcomed the agreement of Baku and Yerevan to hold negotiations in Almaty. Armenia offers to temporarily host, preserve Gaza manuscripts The Armenian Foreign Minister has said Yerevan is ready to help preserve manuscripts from the conflict zone in Gaza. |