.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
rate hike in the same timeframe. Concerning the exchange rate 64.7% of analysts anticipate that the Swiss franc will lose terrain versus the Euro in the coming half-year.
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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
performance," added Joerres.
Southern Europe: In France revenues were up by +5.4% to US$1.5 billion in Q4 2011 from US$1.4 billion in Q4 2010. In constant currency, French revenues were up by +6