World Economy

Eurozone Growth Paltry

Eurozone Growth PaltryEurozone Growth Paltry

Official figures show the economy of the 19-country eurozone expanded by a quarterly rate of 0.3% in the final quarter of 2015, a relatively weak performance given tail winds such as cheap energy, a weaker currency and monetary stimulus, CNBC reported. The growth reported Friday by the European Union’s statistics agency, Eurostat, was in line with market expectations after earlier reports showed Germany, Europe’s biggest economy, grew at the same rate. Over the whole of 2015, the eurozone grew 1.5%. That’s the highest level since 2011 but remains way below levels that would markedly reduce the bloc’s unemployment rate, which remains above 10%.