BRUSSELS (Alliance News) – The euro area economy expanded at a slightly faster pace in the fourth quarter, preliminary flash estimate from Eurostat showed Tuesday.
Gross domestic product grew 0.5% quarter-on-quarter in the fourth quarter, faster than the 0.4% expansion seen in the third quarter. Economists had forecast the growth rate to remain at 0.4%.
On a yearly basis, growth held steady at 1.8%. GDP was forecast to rise 1.7%. The flash estimate for the fourth quarter is due on February 14.
Over the whole year 2016, GDP grew 1.7% in the euro area and by 1.9% in the EU28.
Copyright RTT News/dpa-AFX