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GDP growth in the euro area and EU28
Seasonally adjusted GDP rose by 0.2% in the euro area (EA19) and by 0.3% in the EU28 during the fourth quarter of 2018, compared with the previous quarter, according to an estimate published by Eurostat, the statistical office of the European Union. In the third quarter of 2018, GDP had grown by 0.1% in the euro area and by 0.3% in the EU28.
Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 1.1% in the euro area and by 1.4% in the EU28 in the fourth quarter of 2018, after +1.6% and +1.8% respectively in the previous quarter.
During the fourth quarter of 2018, GDP in the United States increased by 0.6% compared with the previous quarter (after +0.8% in the third quarter of 2018). Compared with the same quarter of the previous year, GDP grew by 3.1% (after +3.0% in the previous quarter).
Over the whole year 2018, GDP rose by 1.8% in the euro area and by 1.9% in the EU28. The annual growth rate for 2017 was +2.4% for both the euro area and the EU28.
Employment growth in the euro area and EU28
The number of persons employed increased by 0.3% in the euro area and by 0.2% in the EU28 in the fourth quarter of 2018 compared with the previous quarter. In the third quarter of 2018, employment increased by 0.2% in both zones.
Compared with the same quarter of the previous year, employment increased by 1.3% in the euro area and by 1.2% in the EU28 in the fourth quarter of 2018 (after +1.4% and +1.3% respectively in the third quarter of 2018).
Over the whole year 2018, employment rose by 1.5% in the euro area and by 1.3% in the EU28. The annual growth rate for 2017 was +1.6% for both the euro area and the EU28.
These data on employment provide a picture of labour input consistent with the output and income measure of national accounts.