Hard data for the fourth quarter of last year, including GDP estimates for some countries and industrial production and retail sales figures for the region as a whole, suggest that euro-zone GDP posted a quarterly gain of just 0.3%. This would be the same growth rate as that seen in Q3, but a slower pace than the various surveys had suggested. What’s more, January’s falls in the Composite PMI and in the EC Economic Sentiment Indicator suggest that growth might have slowed at the start of this year.
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