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Eurozone GDP Up by 0.1% in 4th Quarter

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The Eurozone economy in the fourth quarter of 2009 increased by 0.1 percent compared with the third quarter, the European Union's statistic arm, Eurostat, said on Friday.

During the whole year of 2009, gross domestic product (GDP) of the 16-nation Eurozone contracted by 4.0 percent, the Eurostat said.

Compared with the same period of 2008, GDP of the Eurozone fell by 2.1 percent.

For the 27-member EU, GDP in the fourth quarter also rose by 0.1 percent compared with the third quarter, but fell by 2.3 percent compared with the same period of 2008.

The Eurozone economy was officially out of its first-ever recession in the third quarter of 2009, registering an increase of 0.4 percent.

Analysts said that despite the continued growth in the fourth quarter, there are still pressing challenges ahead for the Eurozone, such as the record high unemployment rate and ballooning budget deficits.

(Xinhua News Agency February 13, 2010)

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