{"id":27492,"date":"2023-04-28T09:18:24","date_gmt":"2023-04-28T09:18:24","guid":{"rendered":"http:\/\/lynettelockhart.com\/client\/euro-zone-grows-marginally\/"},"modified":"2023-04-28T09:32:24","modified_gmt":"2023-04-28T09:32:24","slug":"euro-zone-grows-marginally","status":"publish","type":"post","link":"http:\/\/lynettelockhart.com\/client\/euro-zone-grows-marginally\/","title":{"rendered":"Euro zone grows marginally at start of 2023 after stagnation"},"content":{"rendered":"

BRUSSELS (Reuters) – The euro zone grew only marginally in the first three months of 2023 and at a rate lower than market expectations after stagnation at the end of last year, preliminary data showed on Friday.<\/p>\n

Gross domestic product in the euro zone expanded by 0.1% in the first quarter, below expectations in a Reuters poll for 0.2% growth. Compared to a year earlier, growth was 1.3% against expectations of 1.4%.<\/p>\n

That compared with zero growth in the previous quarter for the current 20-nation euro zone and a quarterly decline of 0.1% for the 19 countries that were in the euro zone at that point.<\/p>\n

Among the bloc’s biggest countries, Germany registered no growth after contraction in the final quarter of 2022. The economies of France, Italy and Spain did expand.<\/p>\n

Surging inflation due to high energy costs following Russia’s invasion of Ukraine and rising food prices, waning confidence and increased interest rates have taken a toll on the single currency’s economy. <\/p>\n

But the economy has displayed some unexpected resilience, too, much like during the COVID-19 pandemic, when growth outperformed expectations as businesses adjusted faster to changed circumstances than policymakers had predicted. <\/p>\n

But even if the bloc is doing better than feared, growth in 2023 will be among the weakest on record due to a large drop in real incomes and surging interest rates.<\/p>\n

The European Commission is forecasting that the euro zone will expand by 0.9% this year and by 1.5% next. The EU executive said the bloc would avoid a recession, but was beset with challenges – from inflation and monetary tightening to weak external demand and general uncertainty.<\/p>\n

For further details of Eurostat data click on:<\/p>\n

http:\/\/ec.europa.eu\/eurostat\/news\/news-releases<\/p>\n

\n

(This story has been corrected to say “first” quarter, not “fourth,” in paragraph 2)<\/p>\n

\n

(Reporting by Philip Blenkinsop; editing by Andrew Gray)<\/p>\n

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BRUSSELS (Reuters) – The euro zone grew only marginally in the first three months of 2023 and at a rate lower than market expectations after stagnation at the end of last year, preliminary data showed on Friday. Gross domestic product in the euro zone expanded by 0.1% in the first quarter, below expectations in a […]<\/p>\n","protected":false},"author":8,"featured_media":27493,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[1216],"tags":[1223],"class_list":["post-27492","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-u-s-economy","tag-updated"],"jetpack_featured_media_url":"http:\/\/lynettelockhart.com\/client\/wp-content\/uploads\/Reuters_Direct_Media\/USOnlineReportEconomy\/tagreuters.com2023binary_LYNXMPEJ3R0EM-VIEWIMAGE.jpg","_links":{"self":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/27492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/comments?post=27492"}],"version-history":[{"count":2,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/27492\/revisions"}],"predecessor-version":[{"id":27497,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/posts\/27492\/revisions\/27497"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media\/27493"}],"wp:attachment":[{"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/media?parent=27492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/categories?post=27492"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/lynettelockhart.com\/client\/wp-json\/wp\/v2\/tags?post=27492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}