GDP up by 0.3% in the euro area and by 0.4% in the EU28

GDP in the euro area keeps its pace of growth of 0.3% in the four quarter of 2015 compared with the period from July to September, revealed the Eurostat estimate published today. The result did not surprise the analysts who did not expect a correction in the preliminary calculations.

The seasonally adjusted GDP has increased with 0.3% in the euro area (EA19) and by 0.4% in the EU28 during the last quarter of 2015. Comparing with the same quarter of the previous year, seasonally adjusted GDP has increased with 1.6% in the euro area and by 1.8% in the EU28 in the fourth quarter of 2015, after +1.6% and +1.9% respectively in the previous quarter. 

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

The household consumption expenditure rose by 0.2% in the euro area and by 0.4% in the EU28 (after +0.5% and +0.6% respectively in the previous quarter).
Exports increased by 0.2% in the euro area and by 0.5% in the EU28 (after +0.2% in both zones). Imports rose by 0.9% in the euro area and by 1.1% in the EU28 (after +1.2% and +1.3%).

For the whole year 2015, GDP grew by 1.6% in the euro area and by 1.9% in the EU28, compared with 0.9% and 1.4% respectively in 2014.