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Private consumption drives euro zone fourth-quarter economic growth
March 7, 2017 / 10:21 AM / 5 months ago

Private consumption drives euro zone fourth-quarter economic growth

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A customer chooses vegetables on a stall of a greengrocer in Marseille, France, February 9, 2017.Jean-Paul Pelissier

BRUSSELS (Reuters) - Household consumption and a rebound in investment drove economic growth in the euro zone in the last three months of last year, data from the European Union's statistics office Eurostat showed on Tuesday.

Eurostat confirmed its earlier estimate that the economy of the 19 countries sharing the euro grew 0.4 percent quarter-on-quarter and 1.7 percent year-on-year.

It said household consumption added 0.2 percentage points to the final quarterly growth number and capital investment added another 0.1 points, rebounding from a 0.1 point negative contribution in the third quarter.

Growing inventories added another 0.1 points and government spending another 0.1 points while net trade subtracted 0.1 points.

Reporting By Jan Strupczewski; editing by Philip Blenkinsop

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