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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROZONE DATA
MNI (London)
EZ Q4 FINAL GDP -0.7% Q/Q SA, -4.9% Y/Y WDA
EZ Q4 FINAL GDP REVISED FROM FLASH -0.6% Q/Q SA, -5.0% Y/Y WDA
- The final estimate of quarterly GDP came in slightly below the flash estimate, but in line with the preliminary flash estimate, showing a contraction in the last quarter of 2020.
- Annual growth was marginally better than indicated by the flash estimate, showing 4.9% decline in Q4 after falling by 4.2% in Q3.
- Q4's decrease was mainly driven by a drop in household spending due to the renewed lockdown measures in several European countries.
- Household consumption fell by 3.0% in Q4, shaving off 1.3pp of GDP growth, while government expenditure ticked up 0.4%.
- Gross capital formation rose by 1.6% in Q4, following Q3's sharp 13.9% increase.
- While exports slowed to 3.5%, down from 16.7% in Q3, imports rose by 4.1% in Q4, resulting in a negative contribution from net trade.
- Among the member states, Ireland (-5.1%), Austria (-2.7%) and Italy (-1.9%) showed the largest declines, while Malta (+3.8%), Greece (+2.7%) and Estonia (+2.1%) posted the biggest gains.
- Employment edged up by 0.3% in Q4, after rising by 1.0% in the previous quarter, while annual employment fell by 1.9% in Q4, slightly up from Q3's 2.1% drop.
Source: Eurostat
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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