The European Economy Continues To Flat Line.

Excellent roundup of European economic developments

European Economic Snapshot

by Thomas Cooley, Austin Jones, and Peter Rupert

The flash estimates of third quarter output in Europe released by Eurostat the EU Statistical Agency last week showed EU  Area GDP grew by .2% in the Euro Zone and .3% in the EU 28.  The Italian economy shrank by .1% and Germany grew by only .1%.  The one sign of strength was the U.K. economy which grew at a relatively robust .7%.

We should note that the graphs that follow are based on the most recent data available but do not include all third quarter data because Eurostat is notoriously inept at making timely data publicly available.

The chart below shows GDP growth for the major economies compared to GDP growth for the U.S.

real.082014-10-26real08piigs2014-10-26real08scan2014-08-14

But, the European picture is very much a tale of two Europes, with Southern Europe showing tremendous weakness and the Northern European Economies and the U.K. showing…

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About Jim Rose

Utopia - you are standing in it promotes a classical liberal view of the world and champion the mass flourishing of humanity through capitalism and the rule of law. The origin of the blog is explained in the first blog post at https://utopiayouarestandinginit.wordpress.com/2014/03/12/why-call-my-blog-utopia-you-are-standing-in-it/

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