Economy

    • Eurozone second-quarter growth slows

      Eurozone second-quarter growth slows

      The eurozone’s GDP barely grew in the second quarter of 2019, data showed on Wednesday, as economies across the bloc lost steam and the largest, Germany, contracted thanks to a global slowdown driven by world trade conflicts and uncertainty over Brexit.

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    • UK economy posts worst quarter since 2012

      UK economy posts worst quarter since 2012

      The British economy has shrunk for the first time since late 2012, after official data Friday showed second-quarter gross domestic product (GDP) contracted by 0.2%, dragged down by a slump in manufacturing just as Prime Minister Boris Johnson prepares to leave the European Union with or without a divorce deal.

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    • EU should prepare for economic shock

      EU should prepare for economic shock

      In its annual growth report, released last week, the Organisation for Economic Co-operation and Development (OECD) painted a gloomy picture for the global market economy - rising inequalities, slowing growth and strong headwinds, notably because of increasing uncertainties on the world political stage and ongoing trade wars.

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    • China's economic growth the lowest in 27 years

      China's economic growth the lowest in 27 years

      China released on Monday its second-quarter figures on Monday and they are showing that country's economy slowed to 6.2% - the weakest rate in at least 27 years, as the country’s trade war with the US remains still unsolved. The 6.2% growth from a year ago is in line with the expectations of analysts polled by Reuters, but is way lower than the 6.4% year-on-year growth in the first quarter of 2019.

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    • Growth hindered by external factors

      Growth hindered by external factors

      The European economy is set for its seventh consecutive year of growth in 2019, with all Member States' economies due to expand, the Commission stated in its Summer Economic Forecast released last Wednesday. The short-term outlook for the European economy, however, is clouded by external factors including global trade tensions and significant policy uncertainty. These have continued to weigh on confidence in the manufacturing sector, which is the most exposed to international trade, and are projected to weaken the growth outlook for the remainder of the year.

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    • Kushner unveils economic plan for Mideast peace

      Kushner unveils economic plan for Mideast peace

      The White House presented on Saturday a $50bn Middle East economic plan that would create a global investment fund to lift the Palestinian and neighboring Arab state economies, and fund a $5bn transportation corridor to connect the West Bank and Gaza. The “peace to prosperity” plan, set to be fully unveiled by White House senior adviser Jared Kushner at an international conference in Bahrain next week, includes in particular 179 infrastructure and business projects, Reuters reports.

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    • Growth continues at a moderate pace

      Growth continues at a moderate pace

      The European economy is to continue expanding for the seventh year in a row in 2019, with real GDP expected to grow in all Member States, according to the EC Spring 2019 economic forecast presented last Tuesday. Although global uncertainties continue, domestic dynamics are set to support the European economy, with growth expected to gather pace again next year.

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    • Huge imbalances prevail across EU

      Huge imbalances prevail across EU

      The EU should work harder in order to improve convergence among Member States as at the time economy slows at least half of the countries are experiencing serious economic imbalances, the EU press service reported. In a regular Winter Semester check-up of EU governments' economic policies, the Commission renewed its warning that gaps not being addressed in several states are harmful to the whole Union.

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