Economic growth in the eurozone has slowed to a snail’s pace.
The region saw growth of just 0.1% in the third quarter of the year, compared to growth of 0.3% in the April to June period.
Portugal scraped just above the average, showing growth of 0.2%.
The area’s power engine, Germany, managed growth of 0.3%, down from 0.7% in the second quarter. The country remains the strongest in the eurozone, and continues to have record high employment and demand for its exports.
But what has taken analysts by surprise is the dip in growth experience in France where the economy shrank by -0.1% after a gain of 0.5%.
A decline in export orders is behind the slowdown coupled with consumers in most countries, hit by austerity measures, unable to pump up domestic demand.
Eurostat also reported that the US economy was picking up, realising growth of 0.7% from July to September after 0.6% in the second quarter.
Comments
And just this week that idiot Barosso (remember him; ruined the Portuguese economy?) told Germany to reduce exports and increase internal domestic demand - i.e. sell less and consume more. Pond life has a greater grasp on macro economics.
The truth is that the EU is in terminal decline and the Euro will collapse when the tipping point of bad EU news is reached and the public see there's no way back.