Euro-area outlook threatened by global market turmoil

Brussels

THE euro-area economy maintained momentum at the end of 2015, though divergences across the region highlight ongoing struggles as global market turmoil threatens the outlook.

The 0.3 per cent expansion in the fourth quarter was driven by Germany, its largest economy, which grew at the same pace. France slowed to 0.2 per cent from 0.3 per cent. Italian growth also slowed, to just 0.1 per cent from 0.2 per cent as Spain led the pack with another gain of 0.8 per cent. Outside the eurozone, Britain rose to 0.5 per cent from 0.4 per cent. For the full 28-nation European Union, the economy gained 0.3 per cent in the fourth quarter, down from 0.4 per cent in the third, and expanded 1.8 per cent for the year.