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Eurozone GDP slowed down in the fourth quarter due to the impact of the coronavirus

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The economy of the European Union (EU) grew 0.2% between October and December compared to the previous quarter, while that of the eurozone increased 0.1%, according to data published Tuesday by the statistical office community Eurostat.

By countries, the large economies of the eurozone registered decreases, in Italy of 0.3%, in France, of 0.1%, while German GDP remained stable. The main decline, however, was observed in Greece and Finland, of 0.7% in both cases. On the opposite side, Ireland (1.8%), Malta (1.7%) and Romania (1.5%), registered main increases in their wealth.

By components, final household consumption increased 0.1% in the area of ​​the single currency and 0.3% in the Twenty-seven in the fourth quarter, while gross fixed capital formation increased by 4.2% and 3.6%, respectively.

The exports, meanwhile, rose 0.2% in both areas, while the imports they increased by 2.2% in the eurozone and 1.8% in the EU.

According to Eurostat, the increase in household consumption and the formation of fixed capital had a positive contribution to growth in both areas, while the external balance had a negative contribution.

Both the eurozone and the EU as a whole grew in the last quarter of the year below the US pace, whose GDP increased 0.5% in the quarter.

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