Euro Area GDP Growth Confirmed at 0.3%


The Eurozone economy advanced 0.3 percent on quarter in the three months to December of 2015, the same as in the previous quarter and in line with preliminary figures. Gross fixed capital formation boosted the expansion while household spending slowed and net trade contributed negatively to growth for the second consecutive quarter. The EU 28 expanded 0.4 percent, higher than a 0.3 percent increase in earlier estimates.

Gross fixed capital formation had a positive contribution to GDP growth in both zones (+0.3 pp and +0.2 pp). It went up by 1.3 percent in the euro area and by 1.1 percent in the EU28 (after +0.4 percent for both zones). 

Household final consumption expenditure also had a positive contribution in both the euro area and the EU28 (+0.1 and +0.2 percentage points), up by 0.2 percent in the euro area and by 0.4 percent in the EU28 (after +0.5 percent and +0.6 percent respectively in the previous quarter). 

The contribution of the external balance was negative for both zones, while the contribution of changes in inventories was positive. Exports rose by 0.2 percent in the euro area and by 0.5 percent in the EU28 (after +0.2 percent in both zones). Imports increased by 0.9 percent in the euro area and by 1.1 percent in the EU28 (after +1.2 percent and +1.3 percent). 

Among Member States for which data are available for the fourth quarter of 2015, Sweden (+1.3 percent), Estonia (+1.2 percent), Poland and Romania (both +1.1 percent), Hungary and Slovakia (both +1.0 percent) recorded the highest growth compared with the previous quarter. Decreases were registered in Croatia (-0.5 percent) and Latvia (-0.3 percent) while GDP in the Czech Republic remained stable.

Year-on-year, the Euro Area economy expanded 1.6 percent in the last three months of 2015, the same as in the previous quarter and better than a preliminary estimate of a 1.5 percent growth. The EU28 advanced 1.8 percent, slowing slightly from a 1.9 percent growth rate in the previous period. 

Eurostat | Joana Taborda | joana.taborda@tradingeconomics.com
3/8/2016 11:06:24 AM