Eurozone Economy Still Doing Better Than US Economy

Eurozone Economy Still Doing Better Than US Economy

Despite the downsides of Brexit and US President Donald Trump’s speeches leaving investors worried for immense uncertainty, the Eurozone continues to improve its economy as business sentiment, growth rates and unemployment have began to improve in the last few months. According to reports, the Eurozone economy has about 14 consecutive quarters of growth with the unemployment rate at a great low in the last six years.

UniCredit Chief Economist Erik Nielsen said he “continues to be amazed” by the negativity Europe receives but the data itself “show huge job creation acceleration and output growth.” The latter has maintained a five and half year high from 2016’s latest data.

However, Europe is still facing an immense financial crisis as the previous year’s fourth quarter indicates only a 0.5 per cent growth. However, the financial crisis is offset by lenient European Central Bank rules that had allowed the Euro to perform steadily under the immense pressure of current events.

American National Trade Council head Peter Navarro said Germany is “exploiting other EU countries” as it enjoys economic gains. Data shows contradiction as other nations prove to have immensely grown in the last year. Spain’s lacklustre 2015 performance is offset by its 2016 3.2 per cent growth. France’s stagnant economy had moved away effectively from a contraction.

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