Eu Economic Recovery Picks Up İn Last Quarter 2014

Recovery in Eurozone economy picked up the pace in last quarter of 2014, the European Statistical Office said in a statement Friday.



"Gross Domestic Product rose 0.3 percent in the euro area and 0.4 percent in the EU28 during the fourth quarter of 2014, compared with the previous quarter." the statement said.



The change is significant from third quarter GDP growth data, which, in Eurozone and EU28, were both 0.1 percentage point lower than in the previous quarter.



The improving economic picture of the union largely driven by improved household consumption and investment, both up by 0.4 percent, and a significant change in exports, up 0.8 percent while imports rose only 0.4 percent.



The European Central Bank's last forecasts, announced Thursday, put 2015 GDP growth at 1.5 percent and 2016 GDP growth at 1.9 percent.



"There are clear signs of economic recovery," said European Central Bank governor Mario Draghi at a press conference Thursday.



www.aa.com.tr/en - Ankara