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The eurozone economy, whose durability has been under question in recent years, expanded at its fastest rate in a decade in 2017, preliminary data showed on Tuesday.
The European Union’s statistics office Eurostat estimated gross domestic product in the 19 countries sharing the euro rose 0.6 percent quarter-on-quarter in the last three months of 2017 for a 2.7 percent year-on-year gain.
Europe's economic recovery roared on despite the uncertainty around Brexit, with the EU economies lifted by a resurgent France and Spain.
Overall in 2017, eurozone GDP rose 2.5 percent, Eurostat said, the fastest growth rate since a 3.0 percent rise in 2007.
Eurostat also revised upwards growth data for the third quarter to 0.7 percent quarter-on-quarter from the previously reported 0.6 percent and to 2.8 percent year-on-year from 2.6 percent.
Separately, European Commission data showed economic sentiment in the eurozone eased slightly in January to 114.7 from a 17-year high of 115.1 reached in December.
This was a result of a slight decline in sentiment in the retail trade sector, where the mood worsened to 5.0 from 6.0 in December and in services, where it declined to 16.7 from 18.0.
But optimism in industry remained steady at the December new high of 8.8 and consumers were more upbeat at 1.3 points in January against 0.5 in December, signaling the positive trends from late 2017 were continuing.
(REUTERS)
