Eurozone growth slowed sharply to 1.2% in 2019

Growth across the eurozone, and the European Union, slowed sharply in the last quarter.

Eurozone and EU GDP both only rose by 0.1% in October-December, down from 0.3% in July-September, dragged down by Italy (-0.3%) and France (-0.1%).

Economists had expected the eurozone to grow by 0.2% in the last quarter, in the face of weak global growth and trade tensions.

On an annual basis, the eurozone economy is only 1% larger than a year ago -- a weak performance.

We don’t yet know how Germany, the region’s biggest economy, performed - that data comes out next month.

Eurostat, which compiles the survey, adds:

According to a first estimation of annual growth for 2019, based on quarterly data, GDP grew by 1.2% in the euro area and 1.4% in the EU28.

EU_Eurostat(@EU_Eurostat)

Euro area #GDP +0.1% in Q4 2019, +1.0% compared with Q4 2018: preliminary flash estimate from #Eurostat https://t.co/x17Ql1VD2U pic.twitter.com/5FcqrG37IrJanuary 31, 2020

Michael Brown(@MrMBrown)
#Eurozone GDP (Q4 - 1st est.)
YoY 1.0% v 1.1% exp. (prev 1.2%)
QoQ 0.1% v 0.2% exp. (prev 0.2%)$EURJanuary 31, 2020