Eurozone GDP up as expected in fourth quarter

Eurozone GDP grew 0.3% in the fourth quarter, in line with the previous quarter and economists’ forecasts, according to a flash estimate from Eurostat.

Compared with the same quarter of 2014, seasonally-adjusted GDP rose by 1.5%, also in line with expectations and a touch weaker than the 1.6% growth registered in the third quarter.

For 2015 as a whole, GDP was up 1.5%.

“Despite an ever-increasing flood of external risks, today’s EU GDP figures show that the region continues to grow steadily,” said Dennis de Jong, managing director at UFX.com.

“Low oil prices and favourable financing conditions have provided optimism for business in the EU, in what seems like a persistent grapple with the global economy."

Still, he said European Central Bank president Mario Draghi will have concerns, as stock markets from the FTSE to the Nikkei remain volatile and industrial production figures for the region are underwhelming at best.