Accelerated government spending was evident as public construction rose sharply by 33.8 percent in the fourth quarter of 2019. On the supply side, growth was propped by the 7.9 % growth in the services sector on the back of solid expansion in public administration and defense, financial intermediation, trade, and other services. The industry sector also contributed positively to the Q4 2019 output growth.
A ruling of the European Court on this case is expected early next week. The court ruling may have serious ramifications for the efforts under way to establish an effective Banking Union in Europe. Considerable momentum has developed in favor of bail-in centered banking resolution.