Wednesday September 3, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Eurozone recovery ‘gathering speed’

Further evidence emerged on Monday that the economic recovery across the 18-country eurozone is accelerating and, perhaps more importantly, spreading to the bloc’s debt-laden laggards.

Financial information company Markit, which publishes a closely watched monthly survey of economic conditions across the region, even suggested that the economic recovery is running at a near three-year high.

It is now forecasting quarterly economic growth of 0.5 percent, which equates to an annualized increase of a little more than 2 percent.

In the fourth quarter of 2013, the eurozone grew by a quarterly 0.3 percent.

The forecast improvement will help ease worries that the recovery from recession isn’t gaining traction.

The eurozone emerged from its longest-ever recession last spring.

A more detailed look at the survey shows Germany, Europe’s largest economy, continues to spearhead the growth and that the recovery is spreading to France and beyond to those economies, such as Greece and Spain, which have been weighed down by government-imposed austerity programs for years.

“The rest of the region also enjoyed its best quarter for three years, providing further evidence that the ‘periphery’ is staging a robust-looking recovery,” said Chris Williamson, chief economist at Markit.

As well as helping to cap the rise in unemployment, economic growth is important for a region that is still operating at way below the level it would have been were it not for the global financial crisis and the ensuing debt crisis.

The lost output has kept a lid on price increases by reining in the power of businesses to raise prices or workers to demand higher wages.

As a result, inflation levels have dropped sharply and in some cases, such as in Greece and Cyprus, prices are actually falling.

[AP]

ekathimerini.com , Tuesday March 25, 2014 (13:46)  
Helexpo sell-off plan to be ready by mid-October
Maniatis talks energy with Washington’s man in Athens
Task force to examine cases of extreme taxation, customs issues
Hotels hike prices by 10 pct in H1 of 2014
Report points to suspicious clinic charges to EOPYY
A quarter of all the expenses submitted last year by private health clinics to EOPYY, the country’s largest healthcare provider, have been deemed suspicious and in need of further investigat...
New rector seeks to introduce ID checks at University of Athens
One day after his swearing-in ceremony was marred by protests against budget cuts and the expulsion of thousands of so-called eternal students, the new rector at the University of Athens, Th...
Inside News
Grateful Saviola thanks Olympiakos, joins Verona
Former Argentina international Javier Saviola has thanked Greek champions Olympiakos for the "beautiful moments" during his season-long stint in Greece as he left the club to join Serie A ou...
SOCCER
Greece defender Papadopoulos fires parting shot at Michel
International defender Avraam Papadopoulos suddenly quit Olympiakos on Monday to join Turkish club Trabzonspor, and fired a parting shot at Olympiakos manager Michel putting the blame on the...
Inside Sports
COMMENTARY
Politicized archaeology
Let us suppose that archaeologists discover that the tomb uncovered in Amphipolis was not the resting place of Roxana or Nearchos, but of Alexander the Great. Let us assume, that is, that ar...
EDITORIAL
Moderating expectations
Politics is, to a great extent, all about managing expectations, and anyone who raises that bar too high or too fast is at serious risk of disappointing and losing the people’s favor. In a c...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Helexpo sell-off plan to be ready by mid-October
2. Maniatis talks energy with Washington’s man in Athens
3. Task force to examine cases of extreme taxation, customs issues
4. Hotels hike prices by 10 pct in H1 of 2014
5. Pension system nears breaking point
6. Report points to suspicious clinic charges to EOPYY
more news
Today
This Week
1. Politicized archaeology
2. Rain and storms with hail expected in many parts of Greece
3. Reforms to dominate Greek talks in Paris, debt relief talks later, says source
4. New committee formed to assess progress of deregulation in closed-shop professions
5. Moderating expectations
6. Greece needs private debt overhaul, Piraeus Bank CEO says
Today
This Week
1. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
2. The battle against progress
3. Strong undersea quake occurs off island of Milos, felt in Athens
4. Hardouvelis, ECB executive discuss bank program, stress tests
5. Greek quest for debt relief faces hurdles in Paris
6. Prospect of Greek grand prix back on the agenda; huge investment needed
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.