EU economic growth stabilizes further in Q4, 2013

[Tender Branson]

First GDP numbers for Q4 have been released today:

Quarter on Quarter growth rates (Q4 vs. Q3):

UK: +0.7%
Germany: +0.4%
France: +0.3%
Spain: +0.3%
Austria: +0.3%

Italy will be out in 1 hour.

[Tender Branson]

Romania: +1.7%
Czech Republic: +1.6%
Netherlands: +0.7%
Hungary: +0.6%

[Tender Branson]

France and Germany Beat Growth Estimates as Euro-Area Recovers

Growth in Germany and France, Europe’s two largest economies, beat economists’ estimates in the fourth quarter in a sign the fragile euro-area recovery is gaining traction.

German gross domestic product rose 0.4 percent from the three months through September, when it increased by 0.3 percent, the Federal Statistics Office in Wiesbaden said today. The statistics office predicted an expansion of a quarter of a percent on Jan. 15, while economists forecast growth of 0.3 percent, according to the median of 40 estimates in a Bloomberg News survey. French GDP rose 0.3 percent after stagnating in the third quarter. Economists predicted growth of 0.2 percent.

The German and French data bode well for the euro area, which has struggled to sustain its recovery. European Central Bank President Mario Draghi signaled last week that policy makers are considering more stimulus to rekindle growth, safeguarding the still-fragile economic revival that has started in some of the most-troubled countries in the region.

(...)

Eurostat, the European Union’s statistics office, will publish data for the euro area at 11 a.m. in Luxembourg today. Economists forecast GDP rose 0.2 percent at the end of last year.

http://www.businessweek.com/news/2014-02-14/german-growth-accelerated-in-fourth-quarter-as-exports-picked-up

[Tender Branson]

Belgium: +0.4%

This would point to a growth rate of ca. 0.4% for the Eurozone and 0.5% for the EU-28.

We'll know more at 11am when Eurostat releases the numbers.

[Tender Branson]

Italy is only +0.1%

So, more like +0.3% for the Eurozone and +0.4% for the EU-28.

[Tender Branson]

More data:

Bulgaria: +0.4%
Finland: -0.8%
Poland: +0.5%
Portugal: +0.5%
Slovakia: +0.4%

[Tender Branson]

Italy is only +0.1%

So, more like +0.3% for the Eurozone and +0.4% for the EU-28.

It's indeed that:

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http://epp.eurostat.ec.europa.eu/cache/ITY_PUBLIC/2-14022014-AP/EN/2-14022014-AP-EN.PDF

The EU-28 is only growing half of the US-rate (+0.8%)

[Franknburger]

.. and the geographical pattern of growth rates suggests that actually US growth is pulling the EU with it (plus some local upswing in southern central Europe, most notably CZ and RO).

[Tender Branson]

Scandinavia seems to experience some kind of recession in Q4 ?

Finland and Norway with declines ...

No data on Sweden and Denmark so far.