Among countries for which data is already available, GDP expanded at a faster pace in: France (0.4 percent from 0.2 percent in Q3); Belgium (0.4 percent from 0.2 percent); Latvia (0.8 percent from 0.3 percent); and Lithuania (1.3 percent from 0.4 percent). Meanwhile GDP growth was unchanged in Spain (at 0.7 percent) and Austria (at 0.5 percent). Germany, the biggest economy in the Euro Area, is expected to release preliminary GDP estimates in two weeks.
Compared with the same quarter of the previous year, the Euro Area economy expanded 1.8 percent, the same as in the previous period and also better than forecasts of 1.7 percent growth.
Over the whole year of 2016, GDP grew by 1.7 percent after expanding by 2 percent in 2015.
Considering the European Union, the GDP growth rose to 0.6 percent (+0.5 percent in Q3) quarter-on-quarter and was steady at 1.9 percent year-on-year. Considering full year of 2016, GDP grew by 1.9 percent, easing from a 2.2 expansion in 2015.