The European Union’s GDP up 0.3% in the fourth quarter of 2018

The economy grows in Europe. The gross domestic product (GDP) was increased by 0.3% in the European Union and 0.2% in the Euro area during the fourth quarter of 2018, thanks to a higher household consumption expenditure and the good performance of exports in the sector, according to data published on Thursday by Eurostat, the statistical office of the European Union.

The growth in the last months of 2018 was driven by the household consumption in both the European Union and in the Euro area, which rebounded on average by 0.3% and 0.2%, respectively.

Foreign trade also had a positive evolution in the last quarter of the year, since it grew by 1.1% in the European Union and by 0.9% in the Euro area. Meanwhile, imports increased by 0.8% in the EU and by 1.1% in the Euro area.

Spain increased its GDP by 0.7% in the fourth quarter of 2018

According to Eurostat, Spain was one of the countries where employment showed a better performance in the last quarter of 2018, recording a recovery of 0.7%. On the other hand, Poland, Latvia and Italy where the countries that registered significant decreases, where employment rates shrank by 1.2%, 0.6% and 0.2%, respectively.

In addition, the states that recorded a greater increase in their GDP during the fourth quarter of last year were Estonia, with 2.2%; Lithuania, with 1.3%, and Sweden, with 1.2%.