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Eurozone economy storms ahead in sharp contrast to Brexit-hit UK

Discussion in 'General Discussion' started by Vouthon, Feb 14, 2018 at 8:12 AM.

  1. Vouthon

    Vouthon Contemplation

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    Eurozone economy storms ahead in sharp contrast to Brexit-hit UK


    The eurozone posted strong industrial production figures for December, while growth data confirmed that the bloc’s economy enjoyed its fastest growth rate in a decade last year – in sharp contrast to the situation in the UK.

    The 19 countries which share the euro saw industrial production expand by 0.4 per cent in December from the previous month, taking the year-on-year gain to 5.2 per cent.

    Economists polled by Reuters prior to the release of the new data had pencilled in a 0.2 per cent monthly gain and a 4.2 per cent annual increase.

    Earlier on Wednesday, data showed the GDP of Germany, the eurozone’s biggest economy, grew by 0.6 per cent on the quarter and 2.9 per cent year-on-year in the fourth quarter of 2017. France’s GDP increased by 0.6 per cent and 2.4 per cent respectively, and Spain expanded by 0.7 and 3.1 per cent respectively.

    Those numbers offer a sharp contrast to the situation in the UK, where the economy has been slowing over the past year as the impact of inflation, stemming from the steep fall in the value of sterling in the wake of the June 2016 Brexit vote, has eroded households’ incomes.

    Last month, a first official estimate showed the UK economy had expanded by 0.5 per cent during the last quarter of 2017, taking growth for the year to 1.8 per cent.

    The Office for Budget Responsibility has forecast UK growth this year to slow to 1.4 per cent, and 1.3 per cent in 2019 – reflecting weaker household consumption due to higher inflation and weak investment from firms, as a result of Brexit-related uncertainty

    Tethered to a corpse any longer my fellow Brits? Yeah, I'd say the EU might be :wink:
     
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  2. sunrise123

    sunrise123 The sea remains the sea whatever the drop thinks
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    I'm utterly not surprised by this result.
     
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  3. YmirGF

    YmirGF Bodhisattva
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    It was somewhat expected. LOL. I'm not exactly sure why this would even seem newsworthy. The UK is still dithering on the whole thing and that causes uncertainty. Business does not like uncertainty.
     
  4. sunrise123

    sunrise123 The sea remains the sea whatever the drop thinks
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    And from what little I know, Brexit is a shoot themselves in their own foot situation where any agreement puts them in a worse position compared to the current EU membership.
     
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  5. Buddha Dharma

    Buddha Dharma I am not a Secular Buddhist

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    Jeepers, who could have guessed that outcome!? No one saw it coming- like the economic experts that tried to warn the UK...
     
    #5 Buddha Dharma, Feb 14, 2018 at 12:47 PM
    Last edited: Feb 14, 2018 at 3:11 PM
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  6. Nakosis

    Nakosis crystal soldier
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    So the EU getting rid of Britain was a good thing?
     
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