Seasonally adjusted GDP rose by 0.3% in the euro area (EA18) and by 0.4% in the EU28 during the fourth quarter of 2014, compared with the previous quarter, according to flash estimates published by Eurostat, the statistics office of the European Union. In the third quarter of 2014, GDP grew by 0.2% in the euro area and by 0.3% in the EU28.
On an annualized basis, growth was at 1.4%. In 2014 as a whole, the economy expanded 0.9% while the EU28 grew by 1.3%.
Euro GDP in the quarter was still 1.9% lower than at its peak, which was in the first three months of 2008.
The flash estimates for Greek GDP show contraction of 0.2% in the fourth quarter, but growth of 1.7% on the year.
Cyprus, and Finland also faltered while Italy was stagnant, and France almost.
German growth accelerated in Q4 2014; French GDP growth fell
Irish GDP data will be published next month.
Italy, Finland and Cyprus contracted in 2014 while Spain grew by 2%, Poland by 3.1% and Hungary by 3.6%.
German Berenberg Bank commentary [pdf]