FXstreet.com (Barcelona) - As widely expected by market analysts, Euro Zone's Gross Domestic product has slowed down in the fourth quarter at half the pace it grew in the previous quarter, according to the latest data by Eurostat.
Gross Domestic Product has slowed down to a 0.4% growth from October to December, when it grew at a 0.8% pace from July to September. On the year, GDP increased 2.3%, down from the 2.7% increase posted in the previous quarter.
These figures do broadly meet the experts expectations, as they had advanced a 0.3% quarterly growth, and a 2.2% rise on the year, and will give further reasons to the ECB to cut rates in the next monetary policy meetings.
On the whole 2007 Euro Zone's GDP has increased 2.7%, just inches down the 2.8% increase posted in 2006, although, by most accounts the situation is nicely to worsen from now on.