FXstreet.com (Barcelona) - European economy has slowed down its growing pace in the fourth quarter, compared to the third quarter of the year, according to the second estimate data released by the European statistics office, Eurostat.

Gross Domestic product, has remained unchanged from the previous estimate at 0.4% in the last three months of the year, a substantially lower growing pace then the 0.7% posted in the third quarter , revised down from the 0.8% previously estimated.

From the same period of the previous year, gross domestic product has been estimated to have grown at a 2.2% pace, slightly slower than the 2.3% estimated previously, while the economic growth of the third quarter has been revised down to a 2.6% growth from the 2.7% previously released.

Household consumption has remained practically unchanged on the month; posting a 0.1% decrease, while investment increased 0.8%, and exports rose 0.5%. Imports decreased 0.4%.