Eurozone's painfully slow recovery continues at half the speed analysts expected
15 May 2014 10:02am
Painful figures for the Eurozone.
The currency bloc has seen GDP growth of just 0.2 per cent in the first quarter of this year, according to estimates from Eurostat.
That's well below the 0.4 per cent economists had forecast.
Ishaq Siddiq, chief market strategist at ETX Capital, says that the figures are more "fuel to inject further stimulus" for the European Central Bank.
At its more recent press conference, ECB president Mario Draghi said that the central bank's governing council was "comfortable" with action at its next meeting, so everyone's expecting big things this June.
Where a Eurozone recovery is visible, it's still pretty concentrated. Germany continues to do well, the Netherlands, France, Italy, and Portugal, less so.
Continuing yesterday's run of economics and World Cup comparisons, Danske Bank Markets' Owen Callan notes that the GDP data and tournament chances of some Eurozone members look alarmingly similar:
Germany and Spain looking strong. France, Portugal and Netherlands look weak. Q1 GDP data or World Cup chances. Works for either.— Owen Callan (@OwenCallan) May 15, 2014
In other news
Greece’s interior minister has said that the country cannot afford its 5 June payment to the International Monetary [Read more]
Young people aged 16 and 17 years old should be given the chance to vote in a EU referendum, according to the [Read more]
The Bank of England is carrying out a confidential investigation into what would happen if the UK left the European [Read more]
This year's Eurovision Song Contest will feature an addition to the normal line up – for the first time ever, [Read more]
Tonight is the 60th Eurovision Song Contest, and once again we're in for an evening of cheesy music and crazy [Read more]
The Eurovision Song Contest is getting more and more expensive, despite Europe's decline into austerity. [Read more]
There were delays of up to 30 minutes to trains in and out of Kings Cross Station, after the station was re-opened [Read more]
When a 20-year-old footballer publicly declares he wants to leave a club and his agent hurls insults at one of [Read more]
The outbreak of bird flu in the US is leading to an unprecedented situation for companies reliant on eggs – [Read more]
Germany's finance ministry has denied reports it was considering offering Greece its own parallel currency. [Read more]
Chancellor George Osborne was given a boost today, as higher tax receipts helped shrink the deficit by more than [Read more]
Beleaguered spread-betting firm Plus500 today suspended trading in its shares on London's junior market, following [Read more]
The news that card and electronic transactions have overtaken cash as the UK’s preferred method of payment is [Read more]
Despite the crippling effect of election uncertainty, offers received in April were up 15 per cent on last year [Read more]
Former secretary of state for communities and local government Eric Pickles is to be knighted, 10 Downing Street [Read more]
Network Rail engineers have destroyed the Abbey Wood station as part of the Crossrail development that is expected [Read more]
The Championship looks set to once again be named the fourth most-watched league in Europe, following a seven [Read more]