Eurozone economic growth hits six-year high

[Flagg]

Eurozone economic growth hits six-year high


BRUSSELS, Aug 14, 2006 (AFP) - The eurozone clocked its fastest growth since the heady days of the dot.com boom in the second quarter as powerhouses France and Germany enjoyed a burst of strength, official EU data showed Monday.

Economist Howard Archer with consultancy Global Insight said: "The second-quarter performance was impressive, even allowing for a significant boost to activity stemming from the football World Cup being held in Germany and the generally strong performance of several of the eurozone's teams."

Germany, the biggest-economy in the eurozone, underpinned the eurozone's second-quarter performance with growth of 0.9 percent over one quarter, the fastest rate since the first three months of 2001.

However, growth was even stronger in France, the eurozone's second-biggest economy, which saw quarterly growth of 1.2 percent.

http://www.expatica.com/source/site_article.asp?subchannel_id=25&story_id=32265&name=Eurozone+economic+growth+hits+six%2Dyear+high

[Vidar]

1. Glad to hear it.

[enigma000]

2. That works out to 4.8% annual growth in France

I wonder if that can be sustained?

[northernsoul]

4. how does that compare the U.S. GDP?

anybody know?

[enigma000]

5. Annual GDP growth for US for last 10 year

http://www.econstats.com/weo/C172V018.htm

Year Growth Change
1996 3.7000 48.0%
1997 4.5000 21.6%
1998 4.2000 -6.7%
1999 4.4000 4.8%
2000 3.7000 -15.9%
2001 0.8000 -78.4%
2002 1.9000 137.5%
2003 3.0000 57.9%
2004 4.4000 46.7%
2005 3.6000 -18.2%
2006 3.0000 -16.7%

[mom cat]

10. Shoot! Our GDP is falling, even during a war! We are in trouble.

[kineneb]

3. results of long-term over short-term planning

EU countries and companies have formulated long-term economic plans, which they view as more important than short-term gains. (horrors- planning!) Having visited Europe shortly after the Euro came out, I could see that a single currency was, in the long-term, going to be a great advantage to all of the countries. Whereas, the US fixation with the next quarter has ultimately destroyed our economy in favor of short-term gains for a few shareholders. In the long term, they too will be losers, because there will be no "consumers" left who can afford their (foreign-made) products. Penny wise and pound foolish, as the old saying goes.

[underpants]

6. ~*paging Mr.O'Reilly please pick up the courtesy phone....

the "Paris Business Review" is trying to get ahold of you

[Odin2005]

7. But the Free Trade people said that economic growth was slow is Europe...

...'cause of all of them regulations and welfare benefits!

:sarcasm:

[demigoddess]

8. that is what not running around the world making war on countries

does for people. It builds wealth in the nation, builds infrastructure and let your children go to college instead of serving in the military fighting, and getting injured. In other words, peace allows all boats to float higher and better. Maybe we should try it here at home.

[xchrom]

9. the europeans are so good at planning with their companies

and NOT letting their companies run them.

and their companies are far more interested in long term goals -- rather than shor tones.

there is still untold opportunity as the east meld into the western economies.