Eurozone economy grows modestly on strong exports

08:13, July 08, 2010      

Email | Print | Subscribe | Comments | Forum 

The Eurozone economy grew modestly in the first quarter of this year thanks to strong exports, the European Union (EU)'s statistics office Eurostat reported Wednesday.

The combined economy of the 16 EU nations that use the euro grew by 0.2 percent in the first three months, Eurostat said, confirming previous estimates.

In comparison with the same quarter of the previous year, the eurozone economy rose 0.6 percent, after shrinking 2.1 percent in the fourth quarter of last year.

The economic recovery in the eurozone was rather weak if compared with the United States and Japan, whose growth rates were 0.7 percent and 1.2 percent respectively in the first quarter.

There was rising concern that the European economy may plunge into a double-dip recession amid a worsening sovereign debt crisis.

In the first quarter of 2010, positive growth in the eurozone was attributable to strong exports, which increased 2.1 percent quarter on quarter. But household consumption expenditure decreased 0.1 prcent and investments fell 1.2 percent.

The EU economy also grew 0.2 percent on a quarterly basis and 0.5 percent on a yearly basis in the first three months of this year.

Among EU member states for which data were available, Ireland recorded the highest growth rate compared with the previous quarter, which was 2.7 percent. Lithuania saw the sharpest drop of 3.9 percent.

Source:Xinhua

(Editor:黄蓓蓓)

  • Do you have anything to say?

双语词典
dictionary

  
Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
  • Photo taken on Sept. 29, 2011 shows strong wind blows trees in Sanya, south China's Hainan Province. Typhoon Nesat heads towards south China and is moving at an average wind speed of 20 km per hour toward the west coast of China's Guangdong Province. (Xinhua/Hou Jiansen)
  • A fallen tree is seen on a road in Qionghai, south China's Hainan Province, Sept. 29, 2011. Typhoon Nesat was predicted to land in Hainan later Thursday, bringing heavy rainfalls to the island. (Xinhua/Meng Zhongde)
  • Arash Kamalvand (L) of Iran spikes the ball during the semifinal against South Korea at the 16th Asian Men's Volleyball Championship in Tehran, Iran, Sept. 28, 2011. Iran won 3-1 to advance to the final. (Xinhua/Ahmad Halabisaz)
  • A man visits "Thy Word Is Truth, the Bible Ministry Exhibition of the Protestant Church in China", during its opening at Mount Vernon Place United Methodist Church in Washington DC, capital of the United States, Sept. 28, 2011. Through the Bible's various Chinese versions, ancient or modern, as well as pictures, paintings, calligraphy, art works and historical documents, the exhibition was expected to give an overall understanding of how Bible was brought into China, how it was translated, published, distributed and loved. (Xinhua/Zhang Jun)
Hot Forum Discussion