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Eurozone’s GDP Growth at 10-Year High
Europe’s 19-member eurozone grew 2.5% last year, its fastest pace in a decade, according to Eurostat.
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Europe’s 19-member eurozone grew 2.5% last year, its fastest pace in a decade, according to Eurostat.
The region’s statistical service says the previous high mark was a 3% expansion in 2007. GDP in October-December grew 0.6%.
Last month the European Central Bank hiked its estimate for the region’s GDP growth this year to 2.3% from 1.8%. The bank also increased its 2019 forecast to 1.9% from 1.7%.
The International Monetary Fund notes that 120 economies representing 75% of global economic activity saw accelerated growth last year. The IMF now expects that global GDP will expand by 3.9% in 2018 and 2019. The bank previously predicted 3.7% growth in each year.
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