Eurozone Q4 GDP Growth Confirmed at Near 4-Year Low

The Eurozone economy grew 0.2 percent on quarter in the final three months of 2018, unrevised from a preliminary estimate and matching the third quarter rate, which had been the lowest since the second quarter of 2014.

Among Eurozone's largest economies, the German economy stalled in the fourth quarter, after contracting in the July-September period for the first time since 2015. Also, Italy's economy contracted 0.2 percent, due to a fall in domestic demand, after a 0.1 percent decline in the previous period and throwing the country into recession for the first time since early 2013. On the other hand, France's GDP growth rate was unchanged at 0.3 percent and the Spanish economy continued to expand at a solid pace (0.7 percent vs 0.6 percent).

Elsewhere, GDP growth was unchanged in Belgium (at 0.3 percent) and slowed in Latvia (1.1 percent vs 1.7 percent), Austria (0.2 percent vs 0.4 percent) and Slovakia (0.8 percent vs 1 percent). On the other hand, economic growth picked up in the Netherlands (0.5 percent vs 0.1 percent), Finland (0.9 percent vs 0.5 percent), Portugal (0.4 percent vs 0.3 percent), Cyprus (1.1 percent vs 0.8 percent) and Lithuania (1.6 percent vs 0.1 percent).

Compared with the same quarter of the previous year, the Euro Area economy expanded 1.2 percent in the three months to December, following a 1.6 percent growth in the previous period. In 2018, the GDP rose 1.8 percent.

Considering the European Union as a whole, GDP growth eased to 0.2 percent quarter-on-quarter (vs 0.3 percent in Q3); and to 1.4 percent year-on-year (vs 1.8 percent in Q3). In 2018, the GDP increased 1.9 percent.

Eurozone Q4 GDP Growth Confirmed at Near 4-Year Low

Eurostat | Joana Ferreira |
2/14/2019 10:24:43 AM