Bulletin

Eurozone hits 1.5% growth but France is still becalmed

Euros, 1.5% Browth but France is sStill Decalmed - Santander UK

Output in Europe expanded to a four-and-a-half year high at the end of 2015, led by Italy and Ireland. Italy saw its PMI index rise to its highest level since 2011, while Ireland remained the fastest expanding euro economy in December. Overall, the numbers suggest the eurozone expanded by 0.4% in the last three months of 2015, bringing annual growth to around 1.5%. But concerns remain around France, which saw barely any growth in December. France's PMI reading fell to an 11-month low of just 50.1, dashing hopes that the economy has finally started to turn a corner. Peter Praet, the European Central Bank's chief economist, yesterday renewed its promise to use every tool in its kit to bring inflation back to near 2%. 'If you print enough money, you will always get inflation. Always,' he told a Belgian magazine. 'There is no plan B. The ECB stands ready to take all measures that are necessary.

 

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