Economy ends the year in slowdown

The economy of the euro zone ended 2007 at slowdown with a growth of Gross Domestic Product (GDP) of 0.4 percent in the fourth quarter, after 0.7 per cent in the previous. Portugal registered a growth of 0.7 percent, recovering from the retreat of 0.1 percent evidenced in the third quarter.

According to figures from Eurostat, disclosed this Tuesday-2007 slowdown in, after Tuesday's GDP grew 0.4 percent in the fourth
Quarter, compared with a rise of 0.7 percent in the previous three months.

In all the 27 EU, the wealth generated increased 0.5 percent, compared with the slowdown in 0.8 percent registered in the third quarter.

Compared with the same quarter of the previous year, GDP
Euro zone grew 2.2 percent, while the EU-27 rose 2.6 per cent, against, respectively, 2.6 and 2.9 percent in the previous quarter.

Eurostat refers still a stagnation of private consumption in the fourth quarter, with expenditure of households to fall 0.1 per cent in the euro zone and rising 0.1 per cent in the EU-27 (after increases of 0.5 and 0.6 percent in the previous three months) and a growth in investment and exports, although
Given the slowdown in the previous period.

Investments increased by 0.8 percent in the eurozone (after 1.2 in the previous quarter) and 0.7 percent in the EU-27 (against 1.4 per cent). In exports, the slowdown was more sensitive, with an increase of 0.5 percent in the euro zone (against 2.1 in the previous period) and 0.6 percent in the EU-27 (compared with 2 percent).

Portugal recorded in the last quarter of 2007 GDP growth of 0.7 percent, recovering from the retreat of 0.1 percent shown in the previous three months. Compared counterpart (compared to the fourth quarter of 2006), GDP grew 2.0 per cent, below the average of the euro zone and EU-27.