Eurozone Economy Quietly Outshines the US
Stream of positive data highlights strength of single currency area despite frequent criticism
From: Financial Times (Google URL)
Highlights:
- Figures for business sentiment, growth rates and unemployment for the single currency area have all provided positive surprises during the start of this year
- The eurozone economy has now posted 14 consecutive quarters of growth, the unemployment rate has returned into single digits, and economic sentiment has reached its highest level in six years.
- The numbers contrast with common depictions of the eurozone economy as stagnant, sclerotic and perennially underperforming.
- Job creation for the eurozone accelerated to a near nine-year record in January, while the rate of output growth maintained a 5½-year high.
- For 2016 as a whole, growth in the eurozone outpaced that in the US by 1.7 per cent to 1.6 per cent.
- Even in 2018, when Mr Trump’s tax cuts and infrastructure spending stimulus are expected to have most effect, recent upgrades to forecasts of eurozone growth are on a par with the US.
Submitted February 06, 2017 at 04:14AM by thrwwy_llt http://ift.tt/2labCUf
