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BUSINESS
July 9, 1999 | From Bloomberg News
The economy of the 11 euro nations expanded by a greater-than-expected 0.5% in the first quarter as companies stepped up investment in plants and machinery, suggesting they expect the pace of growth to accelerate in the months ahead. "We've seen the bottom of the economic cycle and we should see a rebound in the second half of this year," said Christian de Boissieu, an economic advisor to the Chamber of Commerce and Industry in Paris.
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BUSINESS
August 2, 2000 | From Bloomberg News
The euro zone's jobless rate fell in June to the lowest level in almost eight years, as accelerating economic growth encouraged companies to hire. Unemployment fell to 9.1%, the lowest since July 1992, from 9.2% in May, European Union figures showed. While the rate is still more than twice as high as the U.S., it has steadily declined since peaking at 11.7% in 1997. Many analysts expect further declines in coming months.
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BUSINESS
August 2, 2000 | From Bloomberg News
The euro zone's jobless rate fell in June to the lowest level in almost eight years, as accelerating economic growth encouraged companies to hire. Unemployment fell to 9.1%, the lowest since July 1992, from 9.2% in May, European Union figures showed. While the rate is still more than twice as high as the U.S., it has steadily declined since peaking at 11.7% in 1997. Many analysts expect further declines in coming months.
BUSINESS
March 10, 2000 | Bloomberg News
The economy of the 11-nation euro zone expanded at the fastest pace in nearly two years in the fourth quarter, increasing the likelihood the European Central Bank will raise interest rates next week. The gross domestic product grew 0.9% in the latest quarter and accelerated to 3.1% from a year ago--the quickest since the first quarter of 1998, the European Union's statistics office said. Growth for the entire year reached 2.2%, trailing the U.S. rate of 4.1%.
BUSINESS
March 2, 1995 | Times Staff and Wire Reports
EU Inflation Holds Steady: Low figures for Austria, Finland and Sweden kept prices in the European Union flat in January, the group's statistics office said. Luxembourg-based Eurostat said inflation in the 15 countries that now make up the EU was 3.1%, the same as in December, when only 12 members made up the bloc. Without the enlargement, January's inflation rate would have been 3.2%, it said. Finland, Sweden and Austria joined the EU on Jan. 1. Their inflation rates for the month were 1.9%, 2.
BUSINESS
March 10, 2000 | Bloomberg News
The economy of the 11-nation euro zone expanded at the fastest pace in nearly two years in the fourth quarter, increasing the likelihood the European Central Bank will raise interest rates next week. The gross domestic product grew 0.9% in the latest quarter and accelerated to 3.1% from a year ago--the quickest since the first quarter of 1998, the European Union's statistics office said. Growth for the entire year reached 2.2%, trailing the U.S. rate of 4.1%.
BUSINESS
March 9, 2000 | JOHN-THOR DAHLBURG, TIMES STAFF WRITER
The European economy's horror story--call it "The Incredible Shrinking Euro"--goes on, with no end in sight. After a week in which the common currency of 11 member countries of the European Union suffered its sharpest one-day drop ever against the U.S. dollar, the euro this week has been taking a drubbing at the hands of a newly invigorated Japanese yen. The yen finally took a break Wednesday after gaining nine straight days against the hapless euro. The euro edged up to 102.
BUSINESS
May 25, 2010 | By Nathaniel Popper
Stock markets plunged this morning with fears about the European economy and a Korean military confrontation driving the Dow Jones industrial average below 9900. The Dow had fallen 2.2%, or 217.80 points, at mid morning and other indexes fell even more sharply. The Nasdaq composite index was down 2.37% or 52.56 points to 2160.99. The rough opening came in the middle of a tumultuous day of trading in Europe and Asia. Fears about the health of the European Union's economy were stoked when four Spanish banks announced late Monday that they were planning to merge just a few days after the Spanish government bailed out another leading Spanish bank.
BUSINESS
September 16, 2002 | Reuters
The European Union's economy continues to lag behind the United States', and the average EU country's economy is worse in most respects than the U.S., the World Economic Forum will report today. "There is no beating around the bush--Europe continues to under-perform, intra-regional differences notwithstanding," said Anne Mettler, director for Europe at the forum, which is hosting its seventh annual European Economic Summit in Salzburg, Austria, this week.
BUSINESS
August 28, 2007 | From Reuters
European Central Bank President Jean-Claude Trichet added to uncertainty about euro-zone monetary policy Monday, saying he would not commit to any interest rate decisions before a rate-policy meeting next week. Answering questions after a speech in Budapest, Hungary, Trichet noted that his Aug. 2 policy stance, in which he called for "strong vigilance" to stem inflation, was articulated before recent credit worries triggered unusual market volatility.
BUSINESS
March 9, 2000 | JOHN-THOR DAHLBURG, TIMES STAFF WRITER
The European economy's horror story--call it "The Incredible Shrinking Euro"--goes on, with no end in sight. After a week in which the common currency of 11 member countries of the European Union suffered its sharpest one-day drop ever against the U.S. dollar, the euro this week has been taking a drubbing at the hands of a newly invigorated Japanese yen. The yen finally took a break Wednesday after gaining nine straight days against the hapless euro. The euro edged up to 102.
BUSINESS
July 9, 1999 | From Bloomberg News
The economy of the 11 euro nations expanded by a greater-than-expected 0.5% in the first quarter as companies stepped up investment in plants and machinery, suggesting they expect the pace of growth to accelerate in the months ahead. "We've seen the bottom of the economic cycle and we should see a rebound in the second half of this year," said Christian de Boissieu, an economic advisor to the Chamber of Commerce and Industry in Paris.
BUSINESS
March 2, 1995 | Times Staff and Wire Reports
EU Inflation Holds Steady: Low figures for Austria, Finland and Sweden kept prices in the European Union flat in January, the group's statistics office said. Luxembourg-based Eurostat said inflation in the 15 countries that now make up the EU was 3.1%, the same as in December, when only 12 members made up the bloc. Without the enlargement, January's inflation rate would have been 3.2%, it said. Finland, Sweden and Austria joined the EU on Jan. 1. Their inflation rates for the month were 1.9%, 2.
BUSINESS
April 10, 2013 | By Jim Puzzanghera
WASHINGTON -- The World Trade Organization on Wednesday lowered its forecast for global trade growth in 2013, saying economic improvement in the U.S. would not be enough to offset Europe's struggles. The dimmer outlook for trade this year follows a historically poor 2012. Global trade expanded just 2% last year, down from 5.2% in 2011. Excluding years in which worldwide trade contracted, last year was the smallest annual increase since 1981, the WTO said. Growth will improve this year, but not as much as forecast last fall, the WTO said.
NEWS
October 24, 1999 | CAROL J. WILLIAMS, Times Staff Writer
Before democracy tore away the Iron Curtain, locals like Ervin and Eva Szentesi reveled in their distance from the dictators a thousand miles away in Moscow. The trouble was, they felt just as far from the Austrians just across the border, with whom they had shared an empire for most of the millennium. The relative liberty of being the western outpost of the "Evil Empire" earned Hungary the facetious label of "the happy barracks of communism." But its inhabitants were isolated and resentful.
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