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Real GDP growth accelerated in 2016 to +0.7% q/q on average (up from +0.3% in 2015). Yet growth slowed down in Q4 (+0.5% q/q) bringing the annual figure to +2.1% (see Figure 1). Nominal GDP growth has continued to recover reaching +3% in 2016, one of the highest rates in the Eurozone, up from +2% in 2015.

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