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Euro Drops to New Low as GDP Data Confirm Weak Growth


Friday, 14 February 2020 19:52 WIB

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The euro fell again to a nearly three-year low on Friday amid worries about slowing growth in the euro zone, as fourth-quarter data confirmed the economy's sluggish performance.

The euro has lost close to 1% so far this week and is on track for its worst two-week performance since mid-2018.

Euro zone gross domestic product grew 0.1% quarter-on-quarter in the fourth quarter, in line with forecasts. Year-on-year growth was weaker than expected, at 0.9%, although employment grew more than expected. The German economy stagnated, data also showed, renewing fears of a recession.

The euro fell to $1.0827 overnight before settling at $1.0841, down on the day. It was unchanged after the euro zone data was released.

Source : Reuters


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