Away from the Spanish political crisis, there is welcome good news for the Eurozone today, where the economy has risen 2.5% in the last year, a six-year high.
By David Johnson
Growth in the 19-nation Eurozone in the third quarter reached 0.6%, Eurostat the European Union statistics office has announced. At the same time, the French economy rose 0.5% from July-September, pushing its annual growth to 2.2%, separate figures show.
However, there has been a sluggish response in the currency markets, with the Euro showing minimal gains.
David Johnson, founding director of Halo Financial, explains, “The result is good news for Europe, as it was the strongest performance since the financial crisis. However, there are a few issues that are causing concern.
“The Spanish political crisis is ongoing and the European Central Bank (ECB) would like to see inflation, which fell back 0.1% in October to 1.4, rise to around 2%.
“In addition, even though unemployment reached at an eight-year low of 8.9% in September 2017, economists would like it to be even lower.”
The improvement in the French economy, Europe’s second largest economic contribution, was down to increased investment and household consumption, says statistics agency, INSEE.
Consumer spending rose 0.5% in the third quarter, 0.2% up on the previous quarter and investment increased 0.8%. France is aiming for 1.8% growth in 2017.
The Euro Area includes Belgium, Germany, Estonia, Ireland, Greece, Spain, France, Italy, Cyprus, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Austria, Portugal, Slovenia, Slovakia and Finland.
About Halo Financial
Halo Financial is a leading UK foreign exchange brokerage, offering a comprehensive range of services to individuals and businesses since its inception in 2005. The business prides itself on offering a flexible and personalised approach for each of its clients, simplifying the seemingly complex foreign exchange market to maximise savings in currency transactions, protect against currency risk and make money go further.
Staffed by qualified technical analysts, the company is authorised by the Financial Conduct Authority and HM Revenue and Customs.
“Excellent”, “Reliable”, “Professional”, “Knowledgeable”, and “Helpful”– just some of the great feedback received as a Gold Trusted Service Provider for Feefo.com. The team at Halo are proud that customers rate their services so highly and are happy to recommend to others. The company is always striving to provide the best possible service and to innovate services and products in line with customers’ ever-evolving needs.
Halo Financial won Best Customer Focus category in the 2016 Best Business Awards; received OPP Gold for Best Supporting Service; the Gold Award for Financial Support and Innovation from Relocate Magazine, Commendations in the 2016 and 2017 Moneyfacts Awards and has 5 out 5 Star Customer Gold Merchant Status via independent review website, Feefo.com, winning their Gold Trusted Service award.
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