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News - 15 August 2014

Eurozone stalls in second quarter

 Growth in the eurozone as a whole stalled in the second quarter, according to Eurostat figures.

 
Stuart Coleman, Manager of the Tax Department of ABDS comments:
“The economic bloc's two largest economies, France and Germany, both performed worse than expected. Germany's Federal Statistics Office stated that their economy was losing momentum, while France has now seen two quarters of zero growth.”
 
French finance minister Michel Sapin said that France was unlikely to meet its deficit target for this year, and that they had revised its annual growth forecast for 2014 down to 0.5% from a previous 1.0% estimate.
 
German GDP contracted by 0.2% in the three months to the end of June, figures show, after growing by 0.7% in the first quarter.
 
The German Federal Statistics Office said that extremely mild weather at the beginning of the year had an effect on growth.
 
The instability in the Ukraine is widely seen as a factor with a lack of confidence, investment opportunities and export markets all being affected.
 
German 10-year bond yields, the benchmark for euro zone borrowing costs, were 1 basis point down at 1.022%, an all-time low.
 
For those who are looking for a more personal approach on a range of business related issues, contact us at ABDS.
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
Brilliant with numbers  
Great with people  
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
Helping Your Business is Our Business

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