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Private consumption drives euro zone fourth-quarter economic growth
March 7, 2017 / 10:21 AM / 9 months ago

Private consumption drives euro zone fourth-quarter economic growth

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.

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

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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