The economic growth in the eurozone is past his peak said the European Commission. Due to financial market turmoil and a weak French performance.
The European Commission estimated a 2,6 percent grow in the eurozone, but at the end it was a growth of 2,5 percent.
These results are a bit disappointed because last year the Eurozone had got the fastest growth since the turn of the decade with 2,8 percent and the European Union had 3,0 percent.
The biggest reason for the disappointed results is France. France is the second biggest eurozone economy. The European Commission estimated a growth from 2,4 percent for France, but at the end it was only 1,9 percent.
They warned that chaos on financial market could spill over to the real economy if a slowdown in the United States proves to be worse than expected or if credit conditions for business and consumers worsen sharply.
They expected that the European economy can remain strong thanks to the confident of the consumers, with unemployment falling to levels not seen in Europe since the early 1980s.
(Tom Van thienen)
1 comment:
The economic growth in Europe is so big, but there is still unemployment in Europe.
This is a strange fact. It is also impossible that the economic keeps growing, it has peaks and downs.
Bram
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