The eurozone's seasonally adjusted GDP grew 2.7% on an annual basis in the fourth quarter of 2017, in line with previous estimates, according to a third estimate by the Eurostat.
Annual GDP growth in the third quarter of 2017 was revised down to 2.7%, according to the latest estimate.
When compared with the previous quarter, the GDP grew by 0.6% in the bloc during the fourth quarter of 2017, after seasonal adjustments. Third-quarter 2017 GDP grew by 0.7% in the area.
Exports accelerated in the fourth quarter of 2017 by 1.9% in the eurozone, as compared to 1.6% growth in the prior quarter. Imports rose 1.1% during the quarter after increasing 0.6% in the third quarter of 2017. Gross fixed capital formation rebound in the last quarter of 2017, climbing 0.9% after declining 0.2% in the prior quarter.
Meanwhile, the U.S. economy grew by 0.6% during the fourth quarter of 2017 after a 0.8% gain in the previous quarter, the Eurostat said.
For the full year 2017, the eurozone economy expanded 2.3%, down from the previously estimated growth of 2.5%, but higher than 1.8% growth in 2016. The latest estimate is higher than the European Commission's autumn projection of 2.2% GDP growth but falls short of the 2.4% growth recently projected.
