Economically, Eurozone is one of the world most strongest region. But the latest figure is shown that eurozone slowed to 0.3% in the third quarter of this economical year. Eurozone’s largest economical country Germany has slowed but France seems to be come-back to growth.
The Central European Bank (ECB) is hoping to be expanded in December due to its stimulus steps. It is believed that higher imports than the export is to be a reason to such economical decrease. If we look back on
Germany’s economy find that 0.3%grew in the July to September period and down from 0.4%in the earlier quarter. One of the German official said that foreign trade had a downward effect on growth as imports is marked that larger than exports.
Besides, The French economy seems to be better than the previous quarter. One of the French official says that their economy grows by 0.3% in the same period but need to mention that this rate is marked a pick-up from zero growth previously. But he also added that household spending is increased and that production of goods and service picked up. French Finance Minister Michel Sapin mentions that “The country’s GDP figure ensures that we have left in 2015 the period of very weak growth that France had experienced since 2011.”
Another economically strong zone Italy’s growth rate slowed to 0.2% which was lower than expected, where Spanish economy grew by 0.8%.
The economy of Portugal has been recorded that zero growth despite of having expanded by 0.5% in the second quarter. Greece, economically a weak country in eurozone contracted it’s rate by 0.5% where Finland’s decreased by 0.6%.
“The economical rate of third-quarter slowdown in eurozone GDP growth seems to have been largely the consequence of negative net trade” claimed by an expert economist at IHS Global Insight. This shows that the benefit to eurozone exporters coming from the weak euro was offset by muted global growth.
Expectations are increasing that the European Central Bank (ECB) will extend its monetary stimulus programme at its meeting next month.
In October, the bank stated that it would “re-examine” the policy, and on Thursday, ECB president Mario Draghi said the bank was ready to expand its policy if there is any necessity.