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Bernd Kammerer/AP/Press Association Images

Eurozone growth revised downwards to 1.4% in 2011

Eurozone GDP contracted by 0.3 per cent in the final quarter of 2011 – in comparison to a 0.7 per cent rise during the same period last year.

EUROZONE GROWTH HAS been revised downwards to 1.4 per cent for 2011, according to newly-released figures by Eurostat.

The EU statistical office lowered the bloc’s GDP growth from the previous estimate of 1.5 per cent.

It said that GDP had contracted 0.3 per cent in the final quarter of 2011 in comparison to output in the previous quarter.

Third-quarter growth was 0.1 per cent, according to the revised figures – down from previous estimates, which had reported 0.2 per cent growth.

In comparison, the final quarter of 2010 saw GDP in the eurozone rise by 0.7 per cent.

If growth were to continue to contract in the first quarter of this year, the bloc would technically fall into recession once more – as recession is defined by two successive quarters of contraction.

Analyst Howard Archer of IHS Global Insight told the Guardian:

Despite some recent overall improvement in eurozone surveys and evidence that Germany is returning to growth, we doubt that the eurozone will be able to avoid further contraction in the first quarter of 2012 and very possibly the second.

Eurozone in ‘mild recession with signs of stabilisation’>

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7 Comments
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    Mute Padraic O' Sullivan
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    Jan 29th 2025, 7:33 AM

    The issue was the response before the storm.
    There is no shame in going to the EU for assistance before the event, not running around like headless chickens after.
    Billy Dooley was the best they could roll out on tv last night to defend the response.
    Shameful

    104
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    Mute Tony Doran
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    Jan 29th 2025, 8:12 AM

    Perhaps they should also discuss a national plan to put power lines underground in areas where it is still possible.

    61
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    Mute Bryan
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    Jan 29th 2025, 8:25 AM

    @Tony Doran: Hard to know how much that could end up costing in the long run Tony. The last time an underground cable was discovered during a project it cost an extra €250,000…

    40
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    Mute John Paul
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    Jan 29th 2025, 1:14 PM

    @Tony Doran: There are 150,000 kilometres of overhead in this country,on a par with other European countries…..do you suggest putting 150,000 more cables underground?….Countries the world over that have way worse storms and more frequently still use overheads…..the cost would be astronomical……but this nonsense suggestion is wheeled out every time.

    3
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    Mute Dominic Leleu
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    Jan 29th 2025, 8:01 AM

    too late. PR stunt.
    ask also yourself why it’s the same scenario every time and why so many trees were on the road and cutting electricity where they could have been maintained and cut before it happened. no retributions will be made. loosers.

    56
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    Mute brian o'leary
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    Jan 29th 2025, 7:10 AM

    I tend to keep about 20 grand in an account for emergencies, I wasn’t affected by the storm so i’ll spend it on holidays again this year.

    11
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    Mute Freda Peeple
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    Jan 29th 2025, 8:38 AM

    @brian o’leary: Are you not going to list your 7 holidays like you normally do? Everyone loves a bragger/blagger as you know Brian. Especially those who can’t afford holidays. They live vicariously through your waffles

    8
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    Mute Freda Peeple
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    Jan 29th 2025, 8:39 AM

    @Harry Paisley: You haven’t a washer anyway we know that, mammy is bringing you to butlins again, she loves the rides

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    Mute brian o'leary
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    Jan 29th 2025, 10:27 AM

    @Freda Peeple: with the two ski trips this year it’ll only be 6 holidays I’m afraid, nothing like Zermatt to eat into the budget, 40 euro for a pizza for christ sake!

    1
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    Mute Helena Camella Cummins
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    Jan 29th 2025, 12:02 PM

    @brian o’leary: stop taking up space here!!!!

    1
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    Mute brian o'leary
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    Jan 29th 2025, 1:41 PM

    @Helena Camella , no I’ll continue to take advantage of the cheap entertainment while saving for my next trip, scuba diving in Thailand in a few months.

    1
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    Mute Colette Mooney
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    Jan 29th 2025, 12:31 PM

    A proper tree management system is needed urgently. Councils throughout the country should be responsible for this. Trees on private property should also have a height limit. I know tree huggers won’t like this but tough!!!

    7
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    Mute Thesaltyurchin
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    Jan 29th 2025, 8:04 AM

    Lol! gonna have a chat about the weather… Dilldy iiie

    7
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    Mute brian o'leary
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    Jan 29th 2025, 8:36 AM

    Live in towns, you’ll be sorted sooner.

    4
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    Mute brendan C5
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    Jan 29th 2025, 10:48 AM

    @brian o’leary: ya have more of a chance of surviving in the country side than the built up areas if something worse happens like a major sunstorm that overloads and destroys all electrical and electronic stuff. We can get water, grow food and heat and cook with wood or turf what could you do?, go crying to the government for food and water and hold your hand along with all the other city slickers.

    5
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    Mute John Paul
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    Jan 29th 2025, 1:16 PM

    @brendan C5: but it’s you lot that are off the grid now,not us..cry harder,we can’t hear you country boy.

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    Mute brian o'leary
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    Jan 29th 2025, 1:37 PM

    @brendan C5: I’d probably just move down to my cottage in wexford, its on a few arces of woodland near the sea, grow a few veg, catch a few fish, plenty of firewood.

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    Mute Padraig O'Brien
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    Jan 29th 2025, 3:34 PM

    Trees should be banned. Wind should be banned!

    1
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