ECONOMY: Seasonally adjusted GDP 0.2% in the euro area up 1.1% in Cyprus

Seasonally adjusted GDP rose by 0.2% in the euro area, 0.3% in the EU28, but a higher 1.1% in Cyprus during Q4 2018, according to Eurostat.

In Q3 2018, GDP had grown by 0.1% in the euro area, by 0.3% in the EU28, by 0.8% in Cyprus and by 1% in Greece.

Compared with the same quarter of the previous year, seasonally adjusted GDP in Q4 rose by 1.1% in the euro area, 1.4% in the EU, 3.9% in Cyprus and 1.6% in Greece, after +1.6%, +1.8%, +3.7% and +2.1% respectively in the previous quarter.

GDP in the United States increased 0.6% compared with the previous quarter (after +0.8% in the third quarter of 2018).

For 2018, GDP rose 1.8% in the euro area and by 1.9% in the EU28. The annual growth rate for 2017 was +2.4% for both the euro area and the EU28.

In Q4 2018, Estonia (+2.2%) recorded the highest growth compared with the previous quarter, followed by Lithuania (+1.3%), Latvia and Sweden (both +1.2%).

Decreases were observed in Greece and Italy (-0.1%), while GDP in Germany remained static.

Household final consumption expenditure rose by 0.2% in the euro area and by 0.3% in the EU28 (after +0.1% and +0.2% respectively in the previous quarter).

Exports increased by 0.9% in the euro area and by 1.1% in the EU28 (after +0.2% in both zones). Imports increased by 0.5% in the euro area and 0.8% in the EU28 (after +1.1% and +0.8%).

Source: The Financial Mirror