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Latest Business News

Euro-Area Growth Slows to 3 Percent

Friday, June 01, 2007 9:23:09 AM

BRUSSELS, Belgium (AP) - Economic growth in the euro area slowed to 3 percent while the EU as a whole expanded by a slower 3.2 percent in the first three months of the year as household spending barely moved, the European Union said Friday.

The jobless rate in the 13 nations that use the euro fell to a new low of 7.1 percent in April, despite the slight slowdown, the statistical agency Eurostat said.

The economic figures come after a strong finish to 2007 that saw gross domestic product grow 3.3 percent in the euro area and 3.5 percent in the EU.


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