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| Eurozone economy grows 1.5% in 2015 | Eurozone economy grows 1.5% in 2015 |
| (35 minutes later) | |
| The economies of the 19 countries that use the euro expanded by 1.5% in 2015. | 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. | 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. | 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). | 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. | "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. |
| Eurostat also announced on Friday that industrial production had fallen 1% in December compared with the previous month, both for the eurozone and the EU. | |
| Year on year, it fell 1.3% in the eurozone and 0.8% in the EU. | |
| Second quarter of Greek contraction | |
| The biggest contraction in GDP came in Greece, where the economy shrank 0.6% in the fourth quarter, which was better than had been expected. | |
| But the contraction in the third quarter turned out to have been bigger than previously thought, being revised from 0.9% to 1.4%. | |
| Analysis: Andrew Walker, economics correspondent | |
| Several eurozone governments following austerity policies have faced protests on the streets and at the ballot box. | |
| But could it have been a little easier? | |
| That is where Germany comes in. There certainly is a view that Germany has in effect made it harder than it need have been. | |
| How so? Germany surely is the seat of eurozone financial prudence and virtue? Well, there is a case that those features of Germany are a problem for the others. | |
| Read more from Andrew here | |
| 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 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. |