November 21, 2017

EU11 growth slowly picks up – World Bank

According to the World Bank’s latest EU11 Regular Economic Report (EU11 RER), economic growth in the EU111 countries has been gradually recovering from a slow start in early 2013. “Growth in the EU11 countries was close to zero in the beginning of the year, with declining investment and subdued consumption,” said Theo Thomas, Lead Economist in the World Bank’s Europe and Central Asia region and Team Leader of the EU11 RER. ”Nonetheless, economic prospects improved during the year, as the situation in the Euro Area stabilized, exports picked up, and domestic policies supported growth.” According to the report, economic activity in the EU11 region started strengthening in the second quarter amid improved confidence triggered by signs of a recovery in the Euro Area, which exited from recession in the second quarter. Overall, GDP increased by 0.3 percent in the EU11 in the first half of 2013. Both GDP estimates for the third quarter of 2013 and high frequency economic indicators suggest that a modest economic recovery continues.

Source: Actmedia (read more)

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