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Seasonally adjusted GDP rose by 0.6% in both the euro area (EA19) and the EU28 during the fourth quarter of 2017, compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. In the third quarter of 2017, GDP grew by 0.7% in both zones. Compared with the

same quarter of the previous year, seasonally adjusted GDP rose by 2.7% in the euro area and by 2.6% in the EU28 in the fourth quarter of 2017, after +2.7% in both zones in the previous quarter. During the fourth quarter of 2017, GDP in the United States increased by 0.6% compared with the previous quarter (after +0.8% in the third quarter of 2017). Compared with the same quarter of the previous year, GDP grew by 2.5% (after +2.3% in the previous quarter). Over the whole year 2017, GDP rose by 2.3% in the euro area and by 2.4% in the EU28, compared with 1.8% and 2.0% respectively in 2016. EU2

GDP growth by Member State.   Among Member States for which data are available for the fourth quarter of 2017, Estonia (+2.2%), Slovenia (+2.0%) and Lithuania (+1.4%) recorded the highest growth compared with the previous quarter, while Greece and Croatia recorded the lowest growth (both +0.1%), followed by Italy and Latvia (both +0.3%).

GDP components and contributions to growth.  During the fourth quarter of 2017, household final consumption expenditure rose by 0.2% in the euro area and by 0.3% in the EU28 (after +0.3% and +0.4% respectively in the previous quarter). Gross fixed capital formation increased by 0.9% in both zones (after -0.2% in the euro area and +0.2% in the EU28). Exports rose by 1.9% in the euro area and by 1.7% in the EU28 (after +1.6% and +1.3%). Imports increased by 1.1% in the euro area and by 1.3% in the EU28 (after +0.6% in both zones). Household final consumption expenditure had a positive contribution to GDP growth in both the euro area and the EU28 (+0.1 and +0.2 percentage points – pp) and the contribution from gross fixed capital formation was also positive in both zones (+0.2 pp). The contribution of the external balance to GDP growth was positive for both zones, while the contribution of changes in inventories was negative for the euro area and neutral for the EU28.

 

 

 

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