Euro area growth slows to seven-year low as France and Italy contract

Economic growth in the 19-nation area which use the euro has fallen back – led by the French and Italian economies finding a reverse gear.

An early estimate of eurozone output by the EU’s Eurostat service found collective growth of 0.1 per cent in the final three months of 2019 following a figure of 0.3 per cent in the July-September quarter.

That left the year-on-year rate of growth at 0.9 per cent – its weakest level for seven years.

The slowdown in the final three months was driven by the bloc’s three largest economies as France contracted by 0.1 per cent and Italy shed 0.3per cent.

Source: Jordan News Agency