Eurozone Q4 GDP Growth Slows More Than Expected

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Eurozone gross domestic product or GDP rose at a slower pace of 0.1% sequentially in the fourth quarter, flash estimate from the Eurostat showed Friday. Economists had forecast growth to ease to 0.3% from 0.4% in the third quarter.

Compared to the previous year, the euro area GDP fell 2.1%, slower than the 4% fall recorded in the third quarter. The economy contracted more than the expected fall of 1.9%.

GDP for EU27 rose 0.1% quarter-on-quarter in the final three months of 2009. It follows 0.3% rise in the third quarter. Annually, GDP fell 2.3%, the pace slowed from a 4.3% decline in the third quarter.

(Market News Provided by RTTNews)