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Economy

GDP up by 0.2% and employment up by 0.3% in the euro area

February 14, 2019 at 12:19pm

Seasonally adjusted GDP rose by 0.2% in both the euro area (EA19) and the EU28 during the fourth quarter of 2018, compared with the previous quarter, according to a flash estimate published by Eurostat, the statistical office of the European Union. In the third quarter of 2018, GDP had grown by 0.2% in the euro area and by 0.3% in the EU28.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.2% in the euro area and by 1.4% in the EU28 in the fourth quarter of 2018, after +1.6% and +1.8% respectively in the third quarter.

Over the whole year 2018, GDP rose by 1.8% in the euro area and by 1.9% in the EU28, based on seasonally and calendar adjusted quarterly data. The annual growth rate for 2017 was +2.4% for both the euro area and the EU28.

Employment growth in the euro area and EU28

The number of employed persons increased by 0.3% in the euro area and by 0.2% in the EU28 in the fourth quarter of 2018, compared with the previous quarter. In the third quarter of 2018, employment had grown by 0.2% in both the euro area and in the EU28.

Compared with the same quarter of the previous year, employment increased by 1.2% in both the euro area and the EU28 in the fourth quarter of 2018, after +1.3% and +1.2% respectively in the third quarter of 2018.

Over the whole year 2018, employment rose by 1.4% in the euro area and by 1.3% in the EU28, based on unadjusted quarterly data. The annual growth rate for 2017 was +1.6% for both the euro area and the EU28.

These data provide a picture of labour input consistent with the output and income measure of national accounts.