It slowed down from the previous quarter, when the eurozone economy grew by 0.7%, a clear sign that financial turmoil, rising oil prices and the US
economic woes were taking their toll on the economy of the now 15-nation bloc sharing the same currency.
In the quarter, household final consumption expenditure decreased by 0.1% quarter on quarter in the eurozone, after an increase of 0.5% in the previous three months. Investment increased by 0.8% after a rise of 1.1% in the previous quarter. Growth of exports also decelerated from 2.0% to 0.6%.
For the whole year of 2007, the eurozone economy grew by 2.6%, compared to 2.8% in 2006.
In the 27-nation EU, economic growth in the fourth quarter of 2007 was 0.5% compared with the previous quarter and 2.5% year on year, after 0.8% and 2.9% in the previous quarter.
Over the whole year of 2007, the EU economy grew by 2.9%, down from 3.1% in 2006. (Xinhua)
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