Brussels, Mar. 8, (dpa-AFX/GNA) – The eurozone economy expanded at a slower pace in the fourth quarter, as initially estimated, due to the fall in household spending, revised data from Eurostat showed on Tuesday.
The gross domestic product grew 0.3% sequentially, following the third quarter’s 2.3% expansion. The rate came in line with the preliminary estimate published on February 15.
The expenditure-side breakdown showed that household spending decreased 0.6%, in contrast to the 4.5% increase a quarter ago. Meanwhile, the growth in government spending rose to 0.5% from 0.3%.
Further, gross fixed capital formation rebounded 3.5% after falling 0.9% in the third quarter.
Exports and imports climbed 2.9% and 4.6%, respectively.
The economy expanded 4.6% annually in the fourth quarter, as estimated, after rising 4.0% in the previous quarter.
Data showed that employment in the currency bloc increased at a slower pace of 0.5% sequentially, as previously estimated, following a 1.0% rise in the third quarter.
Year on year, growth in employment came in at 2.2% versus 2.1% in the previous period.
GNA