Euro zone, Spain and Japan: a 0.3% GDP’s rise with different meanings

GDP varios

Everything in life is relative, even a 0.3% GPD growth. This number reflects Japan, the euro zone and Spain’s individual expansion in the 4Q13. In spite of the coincidence, Japanese growth is not good news not only because it is a similar percentage to previous quarter but also due to the fact that Reuters’ consensus anticipated an increase of 0.7%. Regarding Europe, analysts expectations pointed out to a 0.2% rise so that figures can be taken as a success. As for Spain a quarterly 0.3% growth confirmed the country’s recovery has started: annualiz ed growth would stand at 0%, not negative registers at last, and consequently the Spanish government will meet 2014 ‘s target deficit.

On the other hand, Japan’s annualized GDP’s increased by 1% against experts calculations which suggested 2.8%. In the euro zone, the expansion improved 1.1% in annual terms.

Germany led euro economies thanks to its exports increase. German statistical office Destatis published on Friday that the country’s GDP grew by 0.4% in 4Q13 against 3Q13 and 1.4% on a year-on-year basis. Both figures beat 0.3% and 1.3% of analysts’s forecasts, respectively.

According to INSEE (Institut National de la Statistique et des Études Économiques in French),  France’s GDP expanded 0.3% in 4Q13 compared to previous quarter when it contracted 0.1%. Regarding Italian GDP it rose 0.1% in the same period, which meant its first increase in 10 succesive quarters.

Finally, Greece fell by 2.6% in last year end quarter, which implies the 22nd GDP’s succesive drop but also the least negative data in the country since 1Q10 as reported by Greek statistical office Elstat. Therefore, Greece would have closed year 2013 with a 3.7% contraction, sligthly over the country and the troika’s forecasts.

About the Author

Julia Pastor
Julia Pastor has broad experience in business writing for Consejeros Media Group at Consejeros, Consenso del Mercado and The Corner. Previously, she worked for the financial news agency GBA and contributed to El País Business. She holds a Master's in Financial Journalism and a degree in English from the Complutense University in Madrid.

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