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Eurozone economy grows 1.5% in 2015 | |
(about 2 hours later) | |
The economies of the 19 countries that use the euro expanded by 1.5% in 2015. | |
In the last three months of the year, they grew 0.3%, compared with the previous three months, according to the statistics agency Eurostat. | |
The 28 countries of the EU also grew 0.3% in the fourth quarter, to a GDP growth rate of 1.8% for the full year. | |
Growth slowed during 2015, suggesting that more action may be needed to stimulate economies from the European Central Bank (ECB). | |
"We continue to think that further monetary easing is required, with further policy rate cuts on the cards from March onwards," said Nick Kounis, economist at ABN Amro. | |
Within the eurozone, the German economy expanded by 0.3% in the final three months of 2015, to an annual rate of 1.7%. | |
The German statistics agency said that government spending was "markedly up", while household consumption rose slightly. | |
The figures follow surprisingly poor industrial production data for December. | The figures follow surprisingly poor industrial production data for December. |
"Slow but steady was the retrospective motto for 2015," said Thomas Gitzel, VP Bank group chief economist, saying the fourth quarter growth was "not exhilarating" but also not a reason to worry. | "Slow but steady was the retrospective motto for 2015," said Thomas Gitzel, VP Bank group chief economist, saying the fourth quarter growth was "not exhilarating" but also not a reason to worry. |