Euro­stat: GDP up 0.4% in 4Q 2015, 0.3% in euro area

Financial Mirror (Cyprus) - - FRONT PAGE -

Sea­son­ally-djusted GDP rose by 0.4% in the last quar­ter of 2015 in Cyprus com­pared to the pre­vi­ous quar­ter and by 2.7% com­pared to the same quar­ter of 2014, ac­cord­ing to data re­leased by Euro­stat, the Euro­pean Union’s sta­tis­ti­cal of­fice. In the euro area, GDP rose by 0.3% and by 0.4% in the EU28 dur­ing the fourth quar­ter, com­pared with the pre­vi­ous quar­ter.

In the third quar­ter of 2015, GDP also grew by 0.3% and 0.4%, re­spec­tively.

Com­pared with the same quar­ter of the pre­vi­ous year, sea­son­ally-ad­justed GDP rose by 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. Among mem­ber states, 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.

Dur­ing the fourth quar­ter of 2015, house­hold fi­nal 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 rose by 0.2% in the euro area and by 0.5% in the EU28 (af­ter +0.2% in both zones). Im­ports in­creased by 0.9% in the euro area and by 1.1% in the EU28 (af­ter +1.2% and +1.3%).

House­hold fi­nal con­sump­tion ex­pen­di­ture had a pos­i­tive con­tri­bu­tion to GDP growth in both the euro area and the EU28 (+0.1 and +0.2 per­cent­age points).

The con­tri­bu­tion of the ex­ter­nal bal­ance to GDP growth was neg­a­tive for both zones, while the con­tri­bu­tion of changes in in­ven­to­ries was pos­i­tive.

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