Eurostat raised its estimate of eurozone GDP growth, despite the economic slowdown

Eurostat improved its assessment of the growth of the eurozone economy in the fourth quarter, helped by increased consumer spending and increased business investment.

According to the updated data, the region's GDP grew by 0.2% compared to the previous quarter, and increased by 1.2% year-on-year. Earlier, interim calculations indicated a less significant expansion of the economy – 0.1% for the quarter and 0.9% for the year.

Despite such positive adjustments, the overall growth rate is showing a slowdown, indicating the impact of multiple external and internal uncertainties. The political instability that engulfed the key countries of the region – Germany and France – began to affect even before the re-election of Donald Trump. His rhetoric related to trade threats and large-scale changes in the global security system only adds new challenges and risks to the region in the near future.