Eurozone (EA19) GDP growth came in at to 0.2% qoq in Q4, matched expectations. it’s also the same rate as in Q3. That’s also the lowest rate in four years since Q2 of 2014. Annual rate slowed to 1.2% yoy, down from Q3’s 1.6% yoy. The year-on-year rate is a five year low.
European Union (EU28) GDP growth came in at 0.3% qoq. Annual rate slowed to 1.5% yoy, down from 1.8% yoy.
Also released, Italy GDP contracted -0.2% qoq in Q4, worse than expectation of -0.1% qoq. Italian was in technical recession with two consecutive quarters of contraction.
