The EU Economy with the Fastest Growth since 2007

A worker at a cork factory in Portugal which cut its deficit sharply last year

The figure follows up growth of 0.9 percent in the first quarter of 2017, 0.6 percent in the second, and 0.7 percent in the third - all adjusted for price, seasonal and calendar effects.

Hungary's GDP is forecast to climb 4.2% annually after rising 3.9% in the third quarter.

Meanwhile, private consumption remained roughly flat quarter-on-quarter, while government spending increased.

Gross fixed capital formation in machinery and equipment was slightly up on the previous quarter, while capital formation in construction was slightly down, Destatis said.

The euro-area economy maintained its robust growth pace at the end of past year, setting the stage for another solid performance in 2018 that may sway European Central Bank policy makers into winding down unprecedented stimulus. The provisional annual GDP result released in January has been confirmed.

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Gross domestic product increased 0.6 percent from the previous three months, Eurostat reported Wednesday, confirming a January 30 estimate.

Carsten Brzeski, chief economist for Germany and Austria at ING suggested there remained much room for further growth. "Germany will likely be among the strongest performers this year, but as you move through the year France and Italy will hopefully start to catch up".

"The only question is how much additional stimulus low interest rates, the strong labour market and the recent upswing of the entire Eurozone economy can still provide to the mature cycle of the German economy - In our view, still a lot".

The euro was worth 1.2374 against the greenback, 132.61 against the yen, 1.1542 against the franc and 0.8902 against the pound as of 1:55 am ET.

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