BRUSSELS (dpa-AFX) - The eurozone economy expanded at a slower pace in the fourth quarter, as initially estimated, due to the fall in household spending, revised data from Eurostat showed on Tuesday.
Gross domestic product grew 0.3 percent sequentially, following third quarter's 2.3 percent expansion. The rate came in line with the preliminary estimate published on February 15.
The expenditure-side breakdown showed that household spending decreased 0.6 percent, in contrast to the 4.5 percent increase a quarter ago. Meanwhile, the growth in government spending rose to 0.5 percent from 0.3 percent.
Further, gross fixed capital formation rebounded 3.5 percent after falling 0.9 percent in the third quarter. Exports and imports climbed 2.9 percent and 4.6 percent, respectively.
The economy expanded 4.6 percent annually in the fourth quarter, as estimated, after rising 4.0 percent in the previous quarter.
Data showed that employment in the currency bloc increased at a slower pace of 0.5 percent sequentially, as previously estimated, following a 1.0 percent rise in the third quarter.
Year-on-year, growth in employment came in at 2.2 percent versus 2.1 percent in the previous period.
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