linked to disappointing sales.
The rate of expansion slowed sharply in Germany, easing for the fourth month from January's four-and-a-half-year high, while a more modest slowing was seen in France from
.2% in the previous quarter. This acceleration was driven by Germany (where GDP grew by +1.5%), France (+1.0%) and the United Kingdom, where the economy expanded by +0.5% after a -0.5% contraction in the previous
for the first time since last September.
Rates of growth eased in all of the nations where PMI data for both manufacturing and services are available. The expansion also remained two-speed, with France
sectors in France, taking the overall rate of expansion down to an eight-month low.
Elsewhere in the Eurozone, outside of France and Germany, output fell for the first time since November 2009. The rate
falling for the first time since August 2009. In both cases, the declines contrast markedly with strong rates of growth in early-2011.
Output growth slowed to near-stagnation in both Germany and France
%), the Czech Republic and Luxembourg (both 10%).
The EU27 includes Belgium (BE), Bulgaria (BG), the Czech Republic (CZ), Denmark (DK), Germany (DE), Estonia (EE), Ireland (IE), Greece (EL), Spain (ES), France
if the economy is subdued, “it will take 10 or 15 years” before France sees the same level of demand for staffing agency services experienced in the UK.
Nick Cox from Hays highlighted the structural growth
consolidation in France in 2012. Q4 2011, revenues in the Benelux countries were reported to have decreased by -1% and the company said that revenue development was slightly behind the market in the Netherlands.
observed elsewhere in European countries such as France, Switzerland and the Netherlands.
The latest seasonally adjusted statistics by the Belgian federation of employment agencies, Federgon, also show