The trend doesn't look good this year for the Eurozone GDP

Eurozone Final Q3 GDP Remains Unchanged, but All Other Components Tick Lower

Posted Friday, December 7, 2018 by
Skerdian Meta • 1 min read

The final Eurozone GDP report for Q3 2018 was released a while ago and, at first glance, it looked alright. The headline number for the final Q3 GDP reading came as expected at 0.2%, but all the other sub-components of this report were lower than expected and lower than the previous reading. Let’s just list the numbers below:

Eurozone Final Q3 GDP0.2%0.2%0.2%
Eurozone Final 2018 GDP1.6%1.7%1.7%
Household Consumption Q30.1%0.2%0.2%
Government Expenditure Q30.2%0.3%0.4%

Even the final Q3 GDP is not as good as it looks. It is unchanged at 0.2% from the first estimate, but it is down from the Q2 GDP. In Q2, the Eurozone GDP grew by 0.4%, while in Q3 growth slowed to just 0.2%. The final GDP for the entire year also ticked lower to 1.6% from 1.7% previously.

Growth in household consumption was also slashed in half at 0.1% from 0.2% in the prelim reading, so it is almost flat. Government expenditure also declined to 0.2% from 0.4% in the first reading, so everything is lower than previously. EUR/USD lost around 15 pips on this report, but has left this report behind already.

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