Brussels: The euro area economy grew 0.3% in the fourth quarter of last year, surpassing market estimates, according to data released Friday by Eurostat.

According to Anadolu Agency, the figure followed a 0.3% quarter-on-quarter expansion in the previous quarter, while in the October-December period, markets had estimated that the eurozone economy would grow 0.2%.

Across the European Union, gross domestic product (GDP) also expanded 0.3% during the same period.

Among member states, Lithuania posted the strongest quarterly growth, with GDP rising 1.7%, followed by Portugal and Spain, both with 0.8%.

Meanwhile, Ireland was the only country that saw a contraction, with its GDP falling 0.6% in the last quarter.

On an annual basis, the eurozone's GDP expanded 1.3%, compared to 1.4% for the wider EU, Eurostat said.

The eurozone represents the 21 member states that use the euro as their official currency.