According to Eurostat, in the fourth quarter of 2016, the growth rate of the economy of the European Union was 0.5%, and annual GDP growth of 1.7%, higher than in the US.
The unemployment rate in the EU fell in December by 0.1% to 9.6%, which is the lowest figure for the last 8 years. The unemployment rate in Germany amounted to 3.9% — a record for the period after the unification of the two Germanys. In Spain unemployment was 18%, and in Greece – 23%.
The European average youth unemployment remains high at 20.9%.