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Eurozone Economy Expanded by 1.5% in Q4 of 2015


The eurozone economy expanded by 1.5% in 2015, the statistics agency Eurostat has announced.

In Q4 of 2015, the 19 countries that use the euro grew 0.3%, compared with the previous three months, Eurostat has said.

The 28 countries of the EU also grew 0.3% in Q4, to a GDP growth rate of 1.8% for the full year.

Growth slowed during 2015, suggesting that more action may be needed to stimulate economies from the European Central Bank (ECB).Eurozone economy Q4 2015

Eurostat also announced on February 12 that industrial production had fallen 1% in December compared with the previous month, both for the eurozone and the EU.

Year on year, it fell 1.3% in the eurozone and 0.8% in the EU.

The biggest contraction in GDP came in Greece, where the economy shrank 0.6% in Q4 of 2015, which was better than had been expected.

However, the contraction in Q3 turned out to have been bigger than previously thought, being revised from 0.9% to 1.4%.

Germany’s economy expanded by 0.3% in Q4 of 2015 to an annual rate of 1.7%.

The German statistics agency said that government spending was “markedly up”, while household consumption rose slightly.

The figures follow surprisingly poor industrial production data for December 2015.

Clyde is a business graduate interested in writing about latest news in politics and business. He enjoys writing and is about to publish his first book. He’s a pet lover and likes to spend time with family. When the time allows he likes to go fishing waiting for the muse to come.