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Eurozone GDP Expands As Estimated In Q4

The euro area economy expanded at a slightly slower pace, as initially estimated, in the fourth quarter, data from Eurostat showed Wednesday.

Gross domestic product grew 0.6 percent sequentially, following the 0.7 percent expansion seen in the third quarter.

The expenditure-side breakdown of GDP showed that growth in household spending slowed to 0.2 percent from 0.3 percent. Likewise, government spending growth eased to 0.3 percent from 0.4 percent.

Meanwhile, gross fixed capital formation rebounded 0.9 percent, reversing a 0.2 percent drop a quarter ago. Exports and imports increased 1.9 percent and 1.1 percent, respectively.

On a yearly basis, GDP growth held steady at 2.7 percent. The rate for the third quarter was revised down from 2.8 percent.

Over the whole year of 2017, the currency-bloc expanded by 2.3 percent instead of 2.5 percent estimated previously. The economy had expanded 1.8 percent in 2016.

A further update of main GDP aggregates will be released on April 13.

by RTTNews Staff Writer

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