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Financial News: Eurozone Q4 Growth Confirmed At 0.1%

Eurozone Q4 Growth Confirmed At 0.1%

02/14/2020 - 05:30:00 (RTTNews)

(RTTNews) - The euro area economy grew as initially estimated in the fourth quarter, flash estimates from Eurostat revealed Friday.

Gross domestic product in the 19-nation bloc grew only 0.1 percent sequentially, following third quarter's 0.3 percent expansion. The rate came in line with the estimate released on January 31.

The 0.1 percent expansion was the slowest growth since early 2013.

On a yearly basis, economic growth eased to 0.9 percent from 1.2 percent in the third quarter. The fourth quarter growth was revised down from 1 percent.

In the fourth quarter, the number of people in work increased at a faster pace of 0.3 percent sequentially, faster than the 0.1 percent rise in the third quarter. On a yearly basis, employment growth held steady at 1 percent.

Another report from Eurostat showed that the trade surplus increased in December as exports increased from November, amid a fall in imports.

The trade surplus rose to EUR 22.2 billion in December from EUR 19.1 billion in November. Exports grew 0.9 percent, while imports fell 0.7 percent.

On an unadjusted basis, the trade surplus totaled EUR 23.1 billion versus EUR 16.3 billion a year ago. Exports advanced 4.8 percent and imports gained 1.1 percent annually.

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