German Economy Avoids Recession; France Shows Stronger Growth

GermanGermany’s economy grew by 0.1 percent in the third quarter of 2014 and barely missed a recession helped by stronger consumer spending levels across Germany.

Revised second quarter GDP numbers for Germany, the strongest economy in the euro area, showed a slight improvement at -0.1 percent versus the first reading of -0.2 percent.

France’s economy grew 0.3 percent in the third quarter and beat the consensus forecast of 0.2 percent.

Revised second quarter GDP results for France, the second strongest economy in the euro area, showed a downward revision to -0.1 percent following a 0 percent growth rate in the first quarter of 2014.

France’s Foreign Minister Michael Sapin said that he still remains concerned about France ‘s job situation.

“Economic activity has picked up slightly but remains too weak to ensure the job creation our country needs” Sapin said.

Italy’s 3rd quarter 2014 GDP results declined -0.1 percent, in line with consensus forecast, marking the 13th quarter with no growth for the third largest economy in the euro area.  Italy is already in recession.

Italy had -.02 percent economic GDP growth in second quarter of 2014.

The Netherlands saw a 0.2 percent increase in their 3rd quarter GDP results for 2014, slightly below the forecast of 0.3 percent.

-Johnathan Schweitzer

 

 

 

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